Goddamn! It’s happening, huh?
After hearing for weeks that Disney was looking to buy parts of 20th Century Fox, the House of Mouse officially announced the purchase this morning. Disney has purchased assets of Fox, including film and television, for about $52.4 billion in stock.
That amount of money doesn’t even sound real.
So what does this mean in general?
Well the rights for the Marvel characters that Fox owns will revert back to the company. (Disney CEO Bob Iger assured fans that Deadpool will remain rated-R, despite Reynolds’ jokes.) The company will also take control of the Avatar franchise (makes sense seeing that they have the theme park). Plus the television shows from The X-Files to The Simpsons. It all belongs to Disney baby.
Disney will also take control of Fox’s majority stock share in Hulu. It makes wonder if, rather than building an entire streaming platform from scratch, Disney will just put their properties on Hulu.
Iger announced that he will stay on until 2021 in order to make sure the transition runs smoothly. He was previously set to exit in 2019.
In a statement, Iger said: “The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before.”
Now for those of you who think this sounds like Disney gaining a unfair monopoly on the entertainment market, then you’re not alone. I think it sounds like a lot for just one company to have.
I mean Disney owns Marvel, Lucasfilm, ESPN, ABC, and now the Fox properties? It’s a lot.
So what is antitrust? Well simply put its a series of laws and regulations to make sure that not one company gets an unfair advantage over others. It’s supposed to encourage healthy competition amongst businesses. It’s also to make sure that we don’t go back to the days of monopolies.
Needless to say, the deal and its particulars will be under a microscope in the months to come.
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