Walt Disney Co. on Thursday announced a deal to acquire many parts of Twenty-First Century Fox which includes entertainment and sports assets for $52.4 billion in stock.
The deal between Disney and 21st Century Fox marks a historic union of Hollywood heavyweights.
Disney The company will get Fox’s movie studios, networks Nat Geo and FX, Asian pay-TV operator Star TV, and stakes in Sky, Endemol Shine Group and Hulu, as well as regional sports networks.
Disney would also assume about $14 billion in debt, resulting in a total deal value of about $66 billion. Following the transaction, Fox shareholders would make up about 25% of the bulked-up Disney.