Disney To Buy Fox In Whopping $66 Billion Deal

Walt Disney Co will buy film, TV and international assets from Rupert Murdoch-owned Twenty-First Century Fox for $52.4 billion in stock.

Under the terms of the all-stock deal, Disney acquires significant assets from Fox, including the studios that produce the blockbuster Marvel superhero pictures, the Avatar franchise and TV shows such as The Simpsons.

Fox stockholders will receive 0.2745 Disney shares for each share held and will end up owning about a quarter of Disney. Disney will also assume about $13.7 billion of Fox’s net debt in the deal.

Disney Chief Executive Bob Iger, who will stay on till the end of 2021 to oversee the integration of the Fox businesses, said:

This gives us the ability to marry the great content of Fox with the great content of Disney, it gives us a much larger international footprint, and it enables us to use cutting-edge technology to reach consumers in far more compelling ways.