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Disney to buy Fox film, TV businesses for $52.4 billion in stock


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Disney to buy Fox film, TV businesses for $52.4 billion in stock

Reuters Staff

 

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The Twenty-First Century Fox Studios logo is seen in Los Angeles, California U.S. November 6, 2017. REUTERS/Lucy Nicholson

 

(Reuters) - Walt Disney Co on Thursday agreed to buy film, television and international businesses from Rupert Murdoch’s Twenty-First Century Fox Inc for $52.4 billion (£39 billion) in stock.

 

Fox assets that will be sold to Disney, include the Twentieth Century Fox movie and cable networks.

 

Disney will also assume about $13.7 billion of net debt of 21st Century Fox.

 

Disney Chief Executive Bob Iger, 66, will extend his tenure through the end of 2021 to oversee the integration of the Fox businesses. He has already postponed his retirement from Disney three times. In March, he said he was committed to leaving the company in July 2019.

 

Reporting by Aishwarya Venugopal in Bengaluru

 
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-- © Copyright Reuters 2017-12-14
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11 hours ago, Andaman Al said:

So it's official, Fox News will finally go to it's true place in the land of make believe.

Sorry to disappoint you but Fox News, Fox Sports and the broadcast channels are NOT part of the deal.  They are being spun off into their own business.

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