Acquisition of 21st Century Fox by Disney
Business acquisition held from 2017 to 2019
Acquisition of 21st Century Fox by Disney
The Walt Disney Company announced its acquisition of 21st Century Fox (21CF) on December 14, 2017. As part of their definitive agreement, Disney was to acquire Fox for $52.4 billion in stock (or 0.2745 Disney shares per 21CF share) and assume 21CF's debt obligations for $23.5 billion, totaling the transaction to approximately $66.1 billion. Due to Federal Communications Commission rules prohibiting a merger of two of the Big Four television networks, 21CF would spin-off certain assets, including the Fox Broadcasting Company, Fox Television Stations, Fox News, Fox Business, and Fox Sports, into a separate publicly-traded company immediately prior to the acquisition. Disney's CEO Bob Iger came up with the idea of the acquisition after Disney acquired a majority control of BAMTech in 2015 as part of efforts to launch their own streaming service (ultimately named Disney+). Development of the acquisition began as early as November 2017, when Disney met with 21CF's CEO Rupert Murdoch to acquire...
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