Disney now owns Fox

Disney now owns Fox

Disney now owns Fox

Deadpool actor Ryan Reynolds has delivered his typically irreverent take on the multi-billion pound takeover of 21st Century Fox by Disney, as Fox announced the deal has now been completed.

Disney said the acquisition would help "increase its global footprint" and "expand its direct-to-consumer offerings", which includes ESPN+, plus its much-anticipated video streaming service Disney+, set to launch in late 2019.

The deal hit a snag in 2018 when Comcast unexpectedly bid $65 billion to lure Fox away from Disney. For starters, Fox controlled rights to various Marvel Comics properties - foremost X-Men and Fantastic Four - which will likely be integrated into Disney's Marvel Cinematic Universe. This includes reuniting the Marvel franchises X-Men and the Avengers, as some of those characters were already in Fox's hands when Disney bought Marvel in 2009.

One other very interesting detail in all of this is that Disney will also take over Fox's 30% stake in Hulu giving it the majority ownership of the streaming service.

On Tuesday actor Ryan Reynolds tweeted a picture of his "Deadpool" character in a Disney-branded school bus.

Deadpool: The Hollywood star, who has amassed a cult following on social media for his cheeky interactions with fans, shared a photograph of his Marvel character wearing Mickey Mouse ears, with the caption: "Feels like my first day at 'pool".

Fox's TV productions include "The Americans", "This Is Us", "Modern Family" and "The Simpsons".

To win the blessing of regulators, Disney agreed to sell 22 Fox regional sports networks in the USA, its half of the A&E channels in Europe and Fox's sports network in Brazil.

For those behind on the Disney-Fox business, the magnitude of this acquisition truly can not be overstated.

The Oscars, incidentally, air on Disney-owned ABC. Disney CEO Bob Iger has called the streaming service the company's "biggest priority" for 2019.

AT&T bought Time Warner past year for $81 billion and has already launched its own streaming service, Watch TV, with Time Warner channels such as TBS and TNT, among other networks, for $15 a month.

The Disney deal is nearly done, and from that major deal, Fox Corporation is trading today as its own, standalone company, (Nasdaq: FOXA, FOX), separate from 21st Century Fox ("21CF"). Disney, for instance, is expanding its attractions related to "Star Wars".

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