It’s Official: Disney Acquires Fox

Share on FacebookTweet about this on TwitterShare on Google+Share on RedditPin on PinterestShare on LinkedInEmail this to someone

As you have seen online today, Disney made it official: it has acquired 21st Century Fox’s film and TV studios. What does that mean? It means that the original 1977 Star Wars returns to Disney. It was the only film in the franchise that did not belong to Lucasfilm, which is owned by Disney. It means that The Fantastic Four and X-Men return to Marvel. Not only that, Disney is majority shareholder of Hulu and they own Die Hard, The Simpsons, How I Met Your Mother, Planet of the Apes, The X-Files, Futurama, Buffy the Vampire Slayer and much more.

You may have noticed, we have stayed mum on the site about the deal until there was something to report. Many news sites fill up their feed with speculations and unfounded rumors about the deal. Even after the announcement of the deal, there are still blatantly unfounded rumors about the completed X-Men movies. Some are talking about with the deal that Disney will kill X-Men: Dark Phoenix or rewrite the ending of Avengers 4.

Even before the deal, you had sites talking about that The Fantastic Four could likely be part of a deal based on a report from a half-baked speculation movie site. A site that claims to be about movies and the business, yet doesn’t know how filmmaking works.

If you want to stick to facts, you can look at what Disney now owns. Disney now owns Avatar, which is good for them as they are making a Pandora theme park. Their acquiring Star Wars IV: A New Hope will allow Disney to do various collector’s sets of the franchise without having to shell out money to Fox, who gets a cut every time Lucas made a new set. However, with Fox being a Disney property, does that mean we will get the Fox Fanfare again?

Regarding Hulu, Disney has a share in the company, but will acquire Fox’s 30 percent share, which gives them a 60 percent stake in the company. Comcast holds 30 percent, while Time Warner only holds 10 percent.

As for CEO Bob Iger, he was original scheduled to step down in 2019. However, with the deal, he is expected to stay on until 2021 to handle the transition. Also included in the deal was 20th Century Fox television, Fox-owned cable networks like FX and National Geographic, and the company’s stakes in international networks like Star TV and Sky (which Fox is planning to acquire full ownership of before the sale is completed).

It is a good and bad scenario. It is good for fans of particular franchises that have been punished by separate film rights, but it is bad that one of the biggest studios just got bigger. People will complain that it is bad because jobs will be lost. Let’s be honest about one thing, those jobs were already gone when Fox opted to sell. Sound off in the comments.