Disney has acquired the 21st Century Fox film and TV studios in a deal worth over $52 billion, The Verge reported.
Fox is looking to offload what it regards as dead weight in its entertainment brands to focus on news and sports, according to the report.
It will retain control of its broadcast assets in the Fox Sports, Fox News, and Fox Business brands.
Disney will get the 20th Century Fox movie studio, the TV production arm of 20th Century Fox Television, Fox-owned cable networks including FX and National Geographic, as well as the stakes Fox has in international networks like Star TV and Sky.
The report stated that Fox plans to acquire full ownership of Sky before its sale to Disney is complete.
Disney will also gain a majority share in Hulu as part of the deal. With Fox’s 30%, Disney will have a 60% controlling stake in Hulu.