The mouse now officially owns the cheese! Wondering what this means? I don’t think there’s anyone on this planet who hasn’t seen or known about ‘Walt Disney' and '20th century Fox', the finest and oldest production houses. Here we’re talking about the acquisition of 21st Century Fox by Disney. This deal is said to be 'The Biggest Deal of this Decade’ which took place on March 20, 2019. The acquisition included the merging of various companies which come under the 21st Century Fox film. Financially, it was a great big-play that has ever happened in the history of entertainment industry.
Previously, Comcast- the parent company of NBC Universal and Sony, gave an offer on June 13, 2018 of $65 billion of all-cash to acquire the Fox. But Disney had already laid eyes on Fox and wasn’t ready to settle for anything but to acquire Fox! This started a rat race in bidding between Comcast and Disney. To prove its worth Disney counter bided Comcast within one week with a bid of $ 71.3 billion. After seeing Disney’s quick moves Comcast, officially took back its bid on June 19, 2018 to focus on the controlling stake in Sky-plc. Sealing this deal, Walt Disney has become the superpower in the entertainment industry as now it holds stakes in more than 10 companies, with prominent names like 21st century Fox, Marvel Cinematic universe, ESPN, etc. Walt Disney acquired Marvel Entertainment for $4.24 billion in 2009 nearly a decade ago. And even ten years later Disney refuses to give its dominance in this industry.
We are sure the next time you are waiting for the post credit scenes and you see the names of these big entertainment giants , you will be curious to know more about the business nuances which run the entertainment industry. Stay tuned to feed your curiosity! It would be wrong to say that 'We're in the End Game now', rather the game has just begun!