Disney buying much of Fox, will help it compete with Netflix
NEW YORK — Disney is buying a large part of Fox, including its movie and television studios, for about $52.4 billion, as the home of Mickey Mouse tries to meet competition from technology companies in the entertainment business.
Disney’s all-stock deal for the Murdoch family’s 21st Century Fox gives it the studios that produce the Avatar movies, “The Simpsons” and “Modern Family.” Murdoch will form a new company to keep the U.S. television networks, including Fox News Channel, Fox Business Network and Fox Broadcasting. “The Simpsons” will continue to air on Murdoch’s Fox stations.
The deal also brings Marvel characters such as X-Men and The Avengers under one roof — Disney’s.
In owning these properties, Disney will be in a better position to compete with the likes of Netflix when it launches ESPN- and Disney-branded streaming services in the coming years.