The Walt Disney Company and Twenty-First Century Fox, Inc. (21st Century Fox) today announced that they have entered into a definitive agreement for Disney to acquire 21st Century Fox, including the Twentieth Century Fox Film and Television studios, along with cable and international TV businesses, for approximately $52.4 billion in stock (subject to adjustment). Building on Disney’s commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose. Immediately prior to the acquisition, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

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It is not clear how the deal will be received by US competition regulators.
The US Department of Justice recently sued to block AT&T's $85.4bn deal to buy Time Warner, on the basis that it will raise prices for consumers and competitors.
Fox's proposed deal to buy the remainder of Sky is being already investigated by the UK Competition and Markets Authority (CMA), which is due to publish provisional findings in January.
The BBC understands that the Disney deal will not alter that investigation.
Fox is selling assets including its FX and National Geographic cable channels and media company Star India.
Disney also will buy Fox's stake in the Hulu video streaming service, giving it majority control of a competitor to Netflix.
Hulu is also partially owned by Comcast and Time Warner.

cc: Briareos lalasticalala, mynd44