On December 14, Walt Disney confirmed the acquisition to acquire 21st Century Fox including the Twentieth Century Fox Film, and Television studies along with cable and international TV business, for approximately $52.4 billion in stock. It is said to be in the term of adjustment.
Prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting Network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be separated to its shareholders. As listed in the agreement, 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold. The exchange ratio was set based on a 30-day volume weighted average price of Disney stock.
Disney will also acquire FX Networks, National Geographic Partners, Fox Sports Regional Networks, Fox Networks Group International, Star India and Fox's Interest Hulu, Sky plc, Tata Sky and Endemol Shine Group.
Mr.Iger has agreed to continue as Chairman and Chief Executive Officer of The Walt Disney Company through the end of the calendar year 2021. Furthermore, There will be a lot of additional advantages with the acquisition and it will enable Disney to enhance its use of innovative technologies including BAMTECH platform, and results in more ways for the storytellers to entertain and connect directly with audiences providing more choices for content.
After the conglomeration, 21st Century Fox's critically acclaimed film production business, Searchlight Pictures and world hit movies like Avatar, X-Men, Fantastic Four and Deadpool, Gone Girl, The Shape of Water and The Martian will be merged under The Walt Disney Company.