Disney Announces 21st Century Fox Acquisition Date, Entertainment News

DISNEY Sets Closing Date for 21st Century Fox Acquisition

Disney's purchase of the Fox assets - first unveiled in December 2017 - will likely transform the Burbank company into an entertainment Goliath, towering over its traditional competitors. The country's Federal Telecommunications Institute (IFT) said Tuesday that during its regular session the day before it unanimously voted to approve the tie-up, subject to compliance with conditions that prevent competition risks like the selling off of Fox's regional sports networks.

Disney said that its $71 billion acquisition of 21st Century Fox America is expected to take effect on Wednesday, March 20.

After over a year of customary reviews and regulatory processes, Disney is now set to officially complete its acquisition of 21st Century Fox.

The transaction includes 21st Century Fox's film and television studios, cable entertainment networks and global TV businesses, which brought popular entertainment properties including X-Men, Avatar, The Simpsons, FX Networks and National Geographic to Disney's portfolio.

Mexico's Federal Telecommunications Institute (IFT) has become the latest and final regulator to approve Disney's Dollars 73.1 billion merger with the assets of 21st Century Fox, albeit with conditions, including the requirement to sell Fox Sports channels.

The Murdochs also will retain the legendary Fox Studios lot on Pico Boulevard near Century City.

Analysts expect that Disney will lay off at least 5,000 people - some on the Fox side, others on the Disney side - as a result of consolidation. Dana Walden, who has led Fox's television studio for two decades, will become head of Disney Television Studios and ABC Entertainment.

Former Warner Bros. executive Craig Hunegs will be president of Disney Television Studios.

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