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Disney closes its $71.3B Fox acquisition

As of 12:02am Eastern today, Disney has closed its acquisition of 21st Century Fox .
The goal of the enormous deal is to help Disney position itself for a streaming-centric future. The company has already taken a step in that direction with the ESPN+ streaming service, and it has plans to launch another service called Disney+ later this year, which will include new shows based on the Star Wars and Marvel universes, as well as Disneys entire movie library.
With the Fox acquisition, Disney has even more films, TV shows and intellectual property to draw on as indicated by the redesigned lead image on on the Disney corporate website, which now features The Shape of Water, Avatar and Deadpool (all Fox films), as well as The Simpsons and Atlanta (which are produced by Fox studios and air on Fox networks). It also becomes the majority owner of Hulu, with CEO Bob Iger (pictured above) saying thatDisney will invest in more original content for Hulu and help it expand internationally.
In addition, the deal solidifies Disneys already-dominant position in Hollywood, as seemingly the one studio that can still reliably draw massive audiences to movie theaters. Thanks to its previous acquisitions of Marvel and Lucasfilm, Disney has had the number one movie at the worldwide box office for each of the past four years, and in 2018, it released three of the top four films, while Fox had two movies in the top 10.

Its official: Disney is acquiring Foxs film and TV divisions for $52.4 billion
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