Fox Confirms That Disney’s Acquisition Of Fox Is Complete; Deal Effective Tomorrow Morning
After over a year of waiting, and clearing all sorts of hoops and hurdles. The Walt Disney Companys acquisition of Fox is now complete.
Disney now controls a bulk of Fox’s film and television assets (excluding Fox News and their sports division) they include 20th Century Fox, Fox Searchlight, Fox 2000, FX, FOX TV, FXX, and other divisions.
21st Century Fox released the following statement:
Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: TFCFA, TFCF) announced that it has today completed the distribution of all issued and outstanding shares of Fox Corporation (“FOX”) common stock to 21CF stockholders (other than holders of the shares held by subsidiaries of 21CF) on a pro rata basis (the “Distribution”). 21CF and FOX are now each a standalone, publicly traded company. FOX Class A common stock and FOX Class B common stock are now listed on the Nasdaq Global Select Market (“Nasdaq”) under the symbols “FOXA” and “FOX,” respectively. 21CF Class A common stock and 21CF Class B common stock, which were formerly listed on Nasdaq under the symbols “FOXA” and “FOX,” respectively, are now listed on Nasdaq under the symbols “TFCFA” and “TFCF,” respectively.
In December 2017, Disney initially put up $52.4 billion for the assets before increasing the offer to $71.3 billion following a counterbid by Comcast. The bidding war concluded with Comcast stepping aside and Disney’s acquisition ultimately clearing several regulatory hurdles. The deal will see the films rights to characters like Anastasia, Avatar, the Fantastic Four and X-Men handed over to Marvel Studios, though it will also likely result in at least 4,000 employees losing their jobs.
Source: 21st Century Fox