Disney Merges With 21st Century Fox in $71 Billion Deal
The goliath company loses some of its trademark magic after buying fellow media corporation.
Disney’s massive empire includes multiple theme parks around the world from Florida to Hong Kong.
On March 20th, The Walt Disney Company closed a colossal merger with 21st Century Fox. Altogether, the merger granted Disney $71.3 billion dollars. The deal was originally approved this past July, but was completed last Wednesday.
According to The Observer, Disney took the initiative to merge with Fox due to the rising popularity of streaming services such as Netflix. The magnitude of the merge is unlike anything ever seen, as Disney had already owned a very large portion of entertainment and media. The company is actually the second largest conglomerate, only passed by Comcast. Franchises owned by the entertainment behemoth include Star Wars, the Marvel Cinematic Universe, the Muppets, and multiple other television and movie series.
Fox is handing over all of their assets, including their television networks, television shows including ‘This Is Us’ and ‘The Simpsons’ and movie franchises such as ‘X-Men’ and ‘Alvin and the Chipmunks’. To put it into perspective, Disney now owns the rights to the ‘X-Men’ and, if they felt the need, could include them in future MCU films.
“I was shocked when I heard about the merger,” sophomore Lucas Bentley said. “It’s scary to realize how big these companies are getting and how much of an impact they have on society. But I like superhero movies and it would be really cool to see someone like Deadpool in the MCU.”
Although Disney has just created countless ways to make more money, International Business Times says that between 4,000-10,000 people will lose their jobs in the merger. “There will be bloodshed over time,” industry analyst Rich Greenfield said. “This is [brand new] territory for Disney, which has never done a mass integration.” The long term effects of the merger are yet to be predicted, but the reviews are mixed. Some believe that Disney’s monopolization of the media will eliminate any chance for competition and variety. Others compliment the merger by saying that it opens doors to combine storylines and bring fan favorite characters together. The only thing that is certain is the Walt Disney Company continuing in their success.
