Century Fox Film Studio

Mark Millar Millarworld

Disney was not be able to acquire the broadcast channel or Fox Sports even if they had wanted to in the sale since the company already owns a broadcast channel (ABC) and sports network (ESPN).

The sports networks include the YES Network in New York, Prime Ticket and Fox Sports West in Los Angeles, and networks that carry 44 professional teams in Major League Baseball, the National Basketball Association and the NHL.

The Walt Disney Company will acquire 21st Century Fox's film and television studios, cable entertainment networks and global TV businesses.

The purchase excludes Fox News, Fox Business and Fox Sports, but includes all of the entertainment assets, including Fox's 30% stake in Hulu. The parts that will split off and not be a part of the Walt Disney company include Fox Broadcasting network and stations, Fox News and Fox Business. If either company abandons the deal for other reasons, it owes the other $1.53 billion.

It is expected that 21st Century Fox's ongoing bid to acquire the full shareholding of Sky will now be inherited by Disney.

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Disney will also be "flowing" more content to Hulu, and managing the digital platform will be "more clear, more efficient and more effective" with one company having control, rather than equal partners.

Disney has yet to reveal a succession plan to replace Iger, who has now extended his contract as chairman and CEO of the studio to 2021. Their deal with Disney values Fox shares at $40 each.

"The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before", Iger said in a statement.

Disney boss Bob Iger said: "We're honoured and grateful that Rupert Murdoch has entrusted us with the future of businesses he spent a lifetime building". On the TV side, Disney is now the proud owner of Fox's Twentieth Century Fox Television, FX Productions and Fox21, bringing shows like The Americans, This Is Us, Modern Family and The Simpsons into the fold. "He will be integral to helping us integrate these companies over the next number of months and during that period of time we will continue to discuss whether there is a role for him here or not". "But I look forward to talking to him about it", Iger said.

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