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| Walt Disney buys Murdoch's Fox for $52bn | Walt Disney buys Murdoch's Fox for $52bn |
| (35 minutes later) | |
| Walt Disney says it is to buy 21st Century Fox's entertainment assets for $52.4bn (£39bn). | Walt Disney says it is to buy 21st Century Fox's entertainment assets for $52.4bn (£39bn). |
| The deal includes Fox's 39% stake in satellite broadcaster Sky, and the 20th Century Fox film studio, Disney announced. | |
| Fox's remaining assets, including Fox News and Sports, will form a new company. | |
| The deal ends more than half a century of media expansion by Fox owner Rupert Murdoch, who is 86 years old. | |
| He turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's largest news and film empires. | |
| Mr Murdoch's shift to selling assets rather than buying them has come as a surprise to those who expected him to hand over the businesses to his sons, James and Lachlan. | |
| It is not clear how the deal will be received by US antitrust regulators. | |
| The US Department of Justice recently sued to block AT&T's $85.4bn deal to buy Time Warner, on the basis that it will raise prices for consumers and competitors. | |
| Fox's proposed deal to buy the remainder of Sky is being already investigated by the UK Competition and Markets Authority (CMA), which is due to publish provisional findings in January. | |
| The BBC understands that the Disney deal will not alter that investigation. | |
| Disney chief executive Bob Iger will remain in his role until the end of 2021. | |
| Fox is selling assets including its FX and National Geographic cable channels and media company Star India. | |
| Disney also will buy Fox's stake in the Hulu video streaming service, giving it majority control of a competitor to Netflix. | |
| Hulu is also partially owned by Comcast and Time Warner. | |
| The deal will also add to Disney's huge back catalogue, with high-grossing films such as the original Star Wars movie, Avatar and Deadpool, as well as TV hits including The Simpsons. |