A couple months ago the Disney Company took the world by surprise by acquiring the assets to 21st Century Fox. Since then we have received much of an update until now.
Disney CEO Bob Iger spoke to investors on the Quarter 1 earnings call, where he addressed the acquisition of 20th Century Fox (among other properties), how the deal is progressing, and what the next steps are.
“Before we discuss the quarter and other developments across the company, a quick update about our recently announced acquisition. The regulatory process has begun in numerous jurisdictions across the world. And I spent the last several weeks meeting with a number of business leaders at Fox, gaining insight that will be invaluable when it comes to integrating our organizations once we have regulatory approval. After these discussions, I’m even more enthusiastic about the businesses we’re acquiring and the management teams that are leading them.”
Following this, Iger explained what Disney’s goals for their future subsidiary will be:
“As we said, when we announced this deal, there are three primary strategic priorities fulfilled by this acquisition. It will deliver more content and the production capabilities and talent to produce even more. It will enhance our direct-to-consumer initiatives with platforms, technologies, brands and existing customer relationships to build on. And it will greatly diversify our businesses geographically. All three of these elements sync up perfectly with our own core strategies, and all three are designed to create growth in a very dynamic global marketplace.”
In short, while fans are most excited about the likes of the X-Men and the Fantastic Four joining the Marvel Cinematic Universe as a result of the merger, that part of the deal is something of an afterthought Iger has his eyes set on ensuring Disney’s dominance of the global box office and other leading entertainment businesses for years to come.
