After a year-long battle for approval, Disney announced that it has acquired 21st Century Fox.
This gives Disney control over various entities, including all 21st Century Fox movie studio resources and a 30% stake in Hulu.
It will also provide Disney control over various news, sports, and broadcast businesses previously run by 21st Century Fox – including Fox News and Fox Sports.
“This is an extraordinary and historic moment for us – one that will create significant long-term value for our company and our shareholders,” said Robert A. Iger, CEO of The Walt Disney Company.
“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”
The deal is worth $71 billion, and will help Disney to boost its various services – including its upcoming Disney+ streaming service.