Hollywood, as we’ve known it for decades, is forever changed today.
Disney has officially acquired 21st Century Fox, paying $52.4 billion in stock for Fox assets, in a deal worth a total of $66.1 billion. As Twitter has already pointed out, the deal comes one day before “Star Wars: The Last Jedi” opens, ironic considering the blockbuster movie is about the dangers of the unfettered reach of one universally dominating force. But I digress! Disney will now bring under their roof Fox’s film and television studios, FX and National Geographic cable networks, and Fox’s regional sports networks.
When you boil it down, Disney is now threatening almost every corner of the media landscape (except news, with Fox holding onto that division). Disney, which already owns ABC and its affiliated channels, will expand their TV footprint. Their film side will also grow massively, not only bolstering their potential franchise offerings (X-Men, “Alien,” and “Avatar” now all reside inside the mouse house), but giving Disney a massive catalog of titles that will become a huge foundation of their upcoming streaming service, set to debut in 2019 (which might just end up being a revamped Hulu , which they’ve also picked up a controlling stake in, and has 16 million subscribers out of the gate — however, it’s also partially owned by Comcast, who might not want to play ball with a rival).
READ MORE: 16 Big Questions On The Disney Purchase Of 20th Century Fox
Everything we’ve known about how Disney operates is going to change dramatically. They are now the single biggest company in Hollywood, and frankly, an entire industry unto themselves (if they weren’t already). That said, this much media controlled by one company raises no shortage of questions, and recent behavior (such as briefly blacklisting the L.A. Times for what Disney thought was unfair coverage) raises concerns about what they’ll feel entitled to with even more clout.
There’s also the question of what becomes of adult-oriented programming across the board, and for our interests, movie divisions Fox 2000 and Fox Searchlight. However, it’s clear content is hugely important for the Disney going forward, so it’s very likely we’ll see them stretch their reach and brand down new avenues.
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” Disney chairman and CEO Bob Iger blandly said in a statement. Incidentally, he has also extended his contract through 2021, so you can rule out any whispers of a political campaign for 2020.
Thoughts or concerns about all of this? Let us know in the comments section.