Disney is buying the Murdoch family's Fox movie and television studios and some cable and international TV businesses 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 21st Century Fox gives it the studios behind Avatar, "The Simpsons" and "Modern Family," though Murdoch will keep the Fox News Channel, the Fox television network and other U.S. television businesses. The deal also brings Marvel characters such as X-Men and The Avengers under one roof.
The blockbuster deal is a way for Disney to acquire the content necessary to rival streaming giants like Netflix. While its influence on the media landscape would be huge, the acquisition is also going to have a sizable impact on Los Angeles and our local economy.
How will the cultures of these two different entities be melded? Could there be layoffs?
With files from the Associated Press.
Guests:
Ben Fritz, film and media reporter at The Wall Street Journal's Los Angeles bureau who’s been following the story; one of his areas of focus is the Walt Disney Company; he tweets @benfritz
Dawn Chmielewski, technology editor at the entertainment news site Deadline who’s been following the story; she tweets @DwanC331
