It was recently reported that Disney was in talks to acquire 21st Century Fox’s film and TV studios. If one was reached, it would have been a massive deal. It was expected that a formal announcement might be made by today and that’s precisely what has happened. Disney has confirmed that it’s acquiring 21st Century Fox’s TV and film studios for more than $52 billion.

It was first reported back in early November and Disney and Fox were in talks about a potential deal. The talks reportedly fell through a few weeks later. However, it was reported once again earlier this month that the talks were back on and now a formal announcement has been made today.

This $52 billion deal will give Disney control of the 20th Century Fox movie studio, the 20th Century Fox Television production division, and cable networks owned by Fox which include National Geographic and FX. Even Fox’s stakes in international networks like Star TV and Sky are covered under this deal.

That’s not all. Disney is also going to end up with a majority control of streaming service Hulu. Fox has a 30 percent stake in Hulu and that will now bump up Disney’s total stake in Hulu to 60 percent, giving it control of the entity. This will reduce Comcast and Time Warner to minority stakeholders in Hulu with stakes of 30 percent and 10 percent respectively.

Disney will also be taking ownership of 21st Century Fox’s vast library of intellectual property which includes comic book characters like the X-Men.

Filed in General. Read more about . Source: thewaltdisneycompany

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