Big news coming from the entertainment world, the Disney Fox deal everyone has been talking about for over a year will finally be concluded early next year, most probably January.
Fox sold its movie and TV business to Disney last year. The way the deal came through was interesting too. There was cutthroat competition between Disney and Comcast. After Comcast attempted to buy Fox, Disney upped the ante by increasing the offer to a whopping $71 Billion, up from 54 Billion dollar which to be fair is pretty whopping too!
The deal will give Disney a sort of monopoly over the market. Although a deal of this magnitude was expected to take its sweet time, it is coming together faster than anyone anticipated.
Disney is reported to launch its own streaming service next year after its deal with Netflix expires. Having Fox’s content is going to be a major boost to their digital library. Watch out Netflix; competition was never this tough!
In an interview with a magazine, 21st Century Fox president Peter Rice in an interview said that the deal would be sealed on January 1, 2018. The future of many Fox employees is in the lurch. As for Rice, he is going to join Disney as a top executive.
It remains to be seen what it means for the Marvel Cinematic Universe, many of whose beloved characters would be returning after this deal. Disney executives have maintained that they have grand plans in store for them.
Even if it takes a couple of days later, at least now we have a rough date to look out for. Rest of the details are not available as of yet, but rest assured, yours truly will keep you updated.