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Walt Disney buys Fox

Lindsey Thron, Facebook Manager

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“Walt Disney has agreed to buy the bulk of 21st Century Fox’s business for $52.4bn (£39bn), in a deal both companies said position them to compete in the rapidly changing media industry.” Says BBC News. Rupert Murdoch is 86 years old and is the owner of Fox. Mr.Murdoch turned a newspaper he got from Australia and turned it into the world’s largest news and film empires. Disney is buying Fox’s movie and television studios, regional sports network, and international holdings. The purchase of Fox will extend Disney’s global reach. Fox is creating a smaller firm focused on news and major live sports events in the U.S. Disney will assume $13.7bn in Fox debt as part of the stock deal, taking the total value of the transaction to more than $66bn.

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Walt Disney buys Fox