A historic deal that will have a major impact in Hollywood was reached between Disney and 21st Century Fox. In that deal, Disney will attain major (not all) assets from the Fox company including the film and TV divisions (read more here). Although it’s not all of the company, Disney will still be buying a huge part of film and TV industry; it’s almost scary. There’s a lot of digest and take in here so I’ll be breaking down what this all means.
Disney CEO Bob Iger had previously announced he would leave after 2019, but this new major acquisition has changed things. He’ll now be extending his contract to continue being chairman and CEO through the end of 2021. This means he’ll be overseeing the deal through, and it makes sense as he’s proven himself to be one of Disney’s best CEO’s. With this news expect to see Disney make similar decisions to how they’ve handled major acquisitions like this in the past decade or so, such as Marvel or LucasFilm.
The deal includes $52.4 billion of stock, which is a lot if you haven’t noticed. Included in this deal is 20th Century Fox’s movie and television studios, regional sports networks, cable channels FX, National Geographic and more. But there are some things the Walt Disney Company didn’t acquire, so let’s take a look at what they own.
What They Own
The film and television studio side of the deal is likely the biggest thing here. As the official press release points out, Avatar, X-Men, Fantastic Four and Deadpool are only some of the movie properties joining the Disney family. Everything 20th Century Fox has done in film is Disney’s now, so let your imagination run wild because there are a lot of big movies they own. This includes the slightly smaller films such as this year’s Shape of Water, The Grand Budapest Hotel, Hidden Figures, Gone Girl, and much more. Also included in with the film studio are the popular franchises such as Kingsman, Planet of the Apes, Predator, and Alien.
If your an X-Men and Fantastic Four fan than this news should excite you as this deal with bring in the opportunity to add those characters to the MCU. Here’s what the official Disney statement says about the Marvel properties.
The agreement also provides Disney with the opportunity to reunite the X-Men, Fantastic Four and Deadpool with the Marvel family under one roof and create richer, more complex worlds of inter-related characters and stories that audiences have shown they love.
So it’s all but official that X-Men, Fantastic Four and Deadpool will be under Marvel Studios. Whether or not they will be adding them into the MCU isn’t certain, but it sure seems like the plan as they now have the opportunity to “create richer, more complex worlds of inter-related characters“.
The other major movie property acquired is the Avatar franchise, which already has it’s own attraction at the Disney amusement parks.
The addition of Avatar to its family of films also promises expanded opportunities for consumers to watch and experience storytelling within these extraordinary fantasy worlds. Already, guests at Disney’s Animal Kingdom Park at Walt Disney World Resort can experience the magic of Pandora—The World of Avatar, a new land inspired by the Fox film franchise that opened earlier this year.
In the television side of the studio, Disney will be obtaining FX Productions and Fox21. This includes popular TV shows such as The Americans, This Is Us, Modern Family, and The Simpsons. They will also own a part of Hulu, one of the biggest streaming services out there.
What They Don’t Own
After the deal is seen through, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network. These will be moved to a new home and under a newly listed company. For us fans these networks aren’t that huge, but nationally there are household names. With that being said, Disney has plenty of the national TV side of the industry so they are making moves to gain a more international coverage.
That’s pretty much the gist of it. A lot of the 21st Century Fox company was sold of to Disney, and that includes some of the biggest movie franchises to date. It’s a bit worrisome however, now that Disney will own an even larger chunk of the industry. This will sure spark a debate on how this will affect Hollywood as we know it.
What do you guys think? Be sure to tweet at SuperBroMovies with your thoughts.
Source: Walt Disney Company