Walt Disney is close to sealing a deal to purchase $60bn 21st Century Fox Studios. If Disney goes through with the deal, they would be purchasing National Geographic cable channels, 22 regional US sports networks, and 21st Century Fox's stake in Hulu. Negotiations started earlier this month and Murdoch's, the owner of 21st Century Fox, decision surprised many outsiders given his desire to expand his billion-dollar business over the past few decades.
Honestly spending that amount of money in my mind is unfathomable. Why would you spend a little over a third of the value of your company to acquire something like this? Also, Disney is really going all out in the entertainment industry as of late, examples of this being Disney's purchase of Lucasfilms, which in essence is the purchase of Star Wars.
http://www.bbc.com/news/business-42333452
I feel a little worried about the volume of media that Disney controls at the moment, and I agree that the amount of money is absurd.
ReplyDeleteGot to love big business takeovers. It is interesting that Fox is going along with this. Even for that amount of money I wouldn't want to sell an entire market
ReplyDeleteDisney is definitely powerful and appears to be diluting the industry. I always wonder how existing companies will change when they are taken over.
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