Disney Buys Fox Assets in $52 Billion Split of Murdoch Realm
- Fox to complete Sky takeover before Disney deal closes
- Disney CEO Iger to stay on in combined company through 2021
Disney to Acquire Some Fox Assets in $52.4 Billion Deal
Walt Disney Co. agreed to a $52.4 billion deal to acquire much of the global empire that media baron Rupert Murdoch assembled over three decades, from a fabled Hollywood studio to Europe’s largest satellite-TV provider to one of India’s most-watched channels.
Holders of Murdoch’s 21st Century Fox Inc. will get 0.2745 Disney share for each Fox share, for assets including the movie and TV production house, a 39 percent stake in Sky Plc, Star India, and a lineup of pay-TV channels that include FX and National Geographic, the companies said in statements Thursday. The price amounts to about $29.54 a share, based on Disney’s closing price Wednesday. Both companies’ stocks slipped in early trading.