Disney's Acquisition of Fox Expected To Close Next Week
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Disney's acquisition of 21st Century Fox assets will finally close as of next week. Disney began discussions about purchasing Fox in 2017, which led many to start speculating about how such a deal would bring Fox's Marvel movie rights, such as those for
X-Men and
Fantastic Four, under the Disney and Marvel Cinematic Universe umbrella.
In November 2017, Disney and Fox announced an agreement for
Disney to acquire the 20th Century Fox movie and TV departments for around $52 billion in stock. This agreement excluded the Fox broadcasting network and Fox News Channel. However,
Comcast began showing interest in acquiring Foxand made a counteroffer. In the end, Disney reigned supreme by offering $71.3 billion, an offer that Fox accepted. Comcast pulled out of the bidding, and Disney began making preparations for the acquisition by getting approval from Disney and Fox's shareholders. The final deal's details left Disney with all of 20th Century Fox's film division, many of its TV shows and FX Productions and FX networks. The agreement also gives Disney a 60 percent share in Hulu. The Department of Justice approved the merger in 2018, after which Disney sought regulatory approval all over the world.
Although the acquisition hit a snag in Brazil, Disney ultimately
got the approval it sought, which moved the acquisition another significant step forward. Now the only question is when Disney's purchase of Fox might become complete.
The Wrap reports that Disney's official takeover of Fox will begin next week, on Wednesday, March 20 at 12:02 a.m. ET.
The most important question, though, remains: What will Disney do once it has the movie rights to
X-Men and
Fantastic Four? Is there a chance that the company will bring those properties into the MCU? Executive Vice President of Marvel Television Jeph Loeb couldn't guarantee that this would happen
but did admit that it's exciting to see those properties return home to Marvel, which is also owned by Disney. This deal also hasn't yet affected the
X-Men movie that Brian Michael Bendis began writing before the transaction was complete - but it's unclear what will happen to all in-progress projects once the deal is officially closed.
Although this creates a gigantic Disney that has swallowed up much of its competition, it also means that Marvel fans could benefit from the acquisition. Not only is there a chance that the X-Men will become part of the MCU, there is even a possibility of Disney creating
new X-Men TV shows for its upcoming Disney+ subscription streaming service. This acquisition may not be a win for the movie industry as a whole, but it could make Marvel fans very happy."
Source:
https://screenrant.com/disney-fox-deal-close-date-confirmed/
