Disney's Blockbuster 21st Century Fox Merger Finalized At $71.3B

LOS ANGELES, CA — Walt Disney Co. reportedly finalized its $71.3-billion purchase of the bulk of Rupert Murdoch’s 21st Century Fox Tuesday, completing one of the most significant mergers in Hollywood history.

According to the Los Angeles Times, the acquisition is the boldest and riskiest of Walt Disney Co. Chief Executive Bob Iger’s 14-year tenure. Now Disney owns everything from "Star Wars" and the "Incredibles" franchise to "The Simpsons" and ESPN, FX and National Geographic. Already a $168 billion force in Hollywood, Disney becomes even more dominant, the Times reported.

“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders,” Iger said in a statement on Tuesday afternoon. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”

The acquisition, completed at 12:02 a.m., includes 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky and Endemol Shine Group. Disney and 21st Century Fox entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox’s Regional Sports Networks. Tuesday trading ended with the two companies announcing a share value of $51.572626.

Earlier this month, Iger took a major pay-cut of $13.5 million, a signal to the industry that he would likely be getting a new contract upon the completion of the blockbuster merger.