After months of negotiations, and a last-minute rival bid by Comcast, the deal for Disney to acquire 20th Century Fox has finally been approved, in what is the biggest takeover deal the entertainment industry has seen in years.
One of the 'Big Six' Hollywood studios alongside Disney, Warner Bros., Paramount, Universal and Columbia, Fox has been around in its current guise since 1935 and boasts a long history of classic movies. While selling out to one of your main competitors is usually a major no-no, everybody has a price. Turns out that Fox's was an eye-watering $65bn.
In spending that kind of money, Disney must have some pretty big ideas in store for the company. The Mouse House have not only strengthened their position as they attempt to establish utter dominance over the entertainment industry, but have given themselves a wealth of business opportunities that could potentially generate countless billions of dollars in both the short and long term.
Mickey isn't sending Fox the way of Old Yeller just yet, but this takeover will no doubt have huge repercussions on the movie industry for decades to come, however Disney decides to handle things. It seems hard to believe that they'll simply strip the company down to its bare bones and leave it to wither and die, but who really knows what goes on behind closed doors in the Magic Kingdom.
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