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| Walt Disney buys Murdoch's Fox for $52.4bn | Walt Disney buys Murdoch's Fox for $52.4bn |
| (35 minutes later) | |
| Walt Disney has agreed to buy 21st Century Fox's entertainment assets for a total $52.4bn (£39bn). | Walt Disney has agreed to buy 21st Century Fox's entertainment assets for a total $52.4bn (£39bn). |
| The deal includes Fox's 39% stake in satellite broadcaster Sky, and the 20th Century Fox film studio, Disney announced. | 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. | 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. | 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. | 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 will still retain control of News Corp, the news publishing group that split away from 21st Century Fox in 2013 and which owns the Times and the Sun newspapers. | |
| Disney's purchase will add to its huge back catalogue, with high-grossing films such as the original Star Wars movie, the Marvel superhero pictures, Avatar and Deadpool, as well as TV hits including The Simpsons. | Disney's purchase will add to its huge back catalogue, with high-grossing films such as the original Star Wars movie, the Marvel superhero pictures, Avatar and Deadpool, as well as TV hits including The Simpsons. |
| Disney chief executive Bob Iger said that Disney was "incredibly excited" about the acquisition, and that it was an "opportunity to expand iconic franchises", including Avatar and Star Wars. | Disney chief executive Bob Iger said that Disney was "incredibly excited" about the acquisition, and that it was an "opportunity to expand iconic franchises", including Avatar and Star Wars. |
| "May the Force be with us all," Mr Iger said. | "May the Force be with us all," Mr Iger said. |
| Succession question | Succession question |
| 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. | 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. |
| James Murdoch had been widely tipped to be given a senior role at Disney. But Mr Iger told Good Morning America: "James and I will be talking over the next couple of months. He will be integral to the integration process. He and I will be discussing whether there is a role for him or not at our company." | James Murdoch had been widely tipped to be given a senior role at Disney. But Mr Iger told Good Morning America: "James and I will be talking over the next couple of months. He will be integral to the integration process. He and I will be discussing whether there is a role for him or not at our company." |
| Mr Iger will remain in his role until the end of 2021. | Mr Iger will remain in his role until the end of 2021. |
| It is not clear how the deal will be received by US competition regulators. | It is not clear how the deal will be received by US competition 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. | 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. | 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. | The BBC understands that the Disney deal will not alter that investigation. |
| Fox is selling assets including its FX and National Geographic cable channels and media company Star India. | 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. | 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. | Hulu is also partially owned by Comcast and Time Warner. |