Disney's $71.3 billion acquisition of 21st Century Fox is set to close next week.
Announced by Disney and Fox, the acquisition, which was first announced at the end of 2017, is expected to officially close on March 20, 2019, at 12:02am ET.
The news arrived alongside the deadline for holders of 21st Century Fox's common stock to elect the form of consideration they wish to receive in preparation for closing.
As previously mentioned, the acquisition was originally announced in 2017 for a price of $52.4 billion. However, Comcast began a bidding war that raised the purchase price to $71.3 billion in cash and stock.
The acquisition involves most of Fox's properties, including X-Men and the Simpsons, but does not include news, sports, broadcast channels or its studio lot.
As for how Disney will handle its new properties, it has confirmed that Marvel would be taking over X-Men and Kevin Feige will oversee it, but that Fox intends to keep The Simpson for "the foreseeable future."
For more, you can read about how we feel that this makes Disney the most powerful film studio around and what this acquisition could mean for TV, especially with Disney's upcoming launch of its streaming platform, Disney+.
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Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly. You can follow him on Twitter @AdamBankhurst.
https://www.ign.com/articles/2019/03/12/disneys-acquisition-of-21st-century-fox-set-to-close-next-week
2019-03-12 14:12:35Z
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