The House of Mouse will soon own a majority of 20th Century Fox for a tidy sum. How much, you say? Try US$71.3 billion.
According to Bloomberg, just a week after Comcast launched a US$65 billion all-cash bid for Fox’s entertainment assets, Disney countered with this megaton amended agreement with the media giant for the aforementioned sum that is split between cash and stock.
Fox said that the proposal is “superior” to Comcast’s previous deal. While this offer still needs to be voted on by shareholders and a possible surprise offer can be made by other companies, we highly doubt that they can top US$71.3 billion.
So what does this means to us pop culture-watching folks? Simple:
- Disney will fully own 20th Century Fox franchises like the X-Men, Deadpool, the Kingsmen, Aliens, the Planet of the Apes, Ice Age, The Simpsons, and a couple more.
- Disney will be able to add in more TV shows from Fox’s side for their upcoming streaming service that is planning to rival Netflix.
- Disney will also gain majority stake in streaming service Hulu. Previously, Disney, Fox, and Comcast had 30 percent.
While the dream of a massive Marvel X-Men vs Avengers crossover is close to being a reality, let’s not forget that monopoly isn’t just a friendship-ruining boardgame; it’s concept that can spell a potentially crappy future where there’s no incentive for competition among TV and streaming broadcasting networks.