On December 14th 2017, The Walt Disney Company announced that is buying 21st century Fox's film, TV and international assets. Disney has agreed to pay $54.2 billion for much of the company owned by Rupert Murdoch. Fox will be keeping its Fox Broadcasting Network, Fox News Channel, Fox Business Network, FS1, FS2, and Big Ten Network. As part of the deal, Disney will be getting Hulu which would serve to help the company in its effort to compete with Netflix.
The total value of the deal is $66.1 billion, as Disney will be assuming $13.7 billion of Fox's debt. Bob Iger, Disney's chief executive, will remain in charge of the company until 2021. The deal now awaits approval of federal regulators.
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