Disney-Fox Deal To Close By Summer 2019

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 2 weeks ago '06        #1
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Disney-Fox Deal To Close By Summer 2019
 

 
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21st Century Fox president Peter Rice held the first of two town hall meeting on the lot today to reassure Fox Networks Group staffers amid jitters related to the pending acquisition by The Walt Disney Co. of key Fox a.ssets, including 20th Century Fox movie studio, 20th Century Fox Television TV studio and FX Networks. There were no pressing issues on the agenda, with Rice just providing an update on the process (and also revealing his favorite Disney character — it’s Goofy).

While there had been some optimistic early estimates that the deal, announced last December, could go through regulatory approval faster, Rice told Fox employees that the transaction will most likely be completed by end of summer 2019 at the latest, close to the 18-month conservative initial projection.

The remaining Fox a.ssets, including Fox Broadcasting Company, national sports cable networks FS1 and FS2, Fox News Channel and the Fox stations, will form a new company, previously referred by Rupert Murdoch as New Fox. Today Rice jokingly called the slimmed-down post-merger group “Diet Fox” in response to a comparison an attendee made between New Fox and New Coke. He noted that the new company will likely be called Fox. Rice expects that management changes at Fox would be announced first — over the next 12 months — because that company has to be up and running on the day the Disney transaction comes through.

Rice also reiterated comments he as well as Fox TV Group chairmen Dana Walden and Gary Newman had made in the past couple of months that it will be business as usual for Fox Broadcasting Co. but the network will evolve over time while continuing to be “an exciting entertainment network.”

Post-merger, FBC will be separated from 20th TV, which provides 70% of its programming and also dominates its development for next season. While live programming and sports are expected to be a major part of the evolved FBC, as underlined by Fox’s recent deal for Thursday Night Football, the network also plans to license shows from studios, Rice said. TNF makes Fox NFL’s most important partner with 40% of the viewership across broadcast and cable, he noted.

The post-deal Fox will remain based in West LA and Disney will be leasing offices on the Fox lot for the next 7 years. For those moving to Disney, the transition should be seamless, while for those staying, it will be “exciting time” as the new Fox would be a focused, nimble and well capitalized company set up for the future, Rice said.


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14 comments for "Disney-Fox Deal To Close By Summer 2019"

 2 weeks ago '14        #2
mumbosauce 267 heat pts267
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[video - click to view]

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 2 weeks ago '17        #3
CJ Schwarz 1 heat pts
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That's pretty quick
 2 weeks ago '17        #4
Whimsical 23 heat pts23
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 CJ Schwarz said:
That's pretty quick
and he said that's the latest possible date too, so it might be happening sooner than that.
bigscore gave props
 
 2 weeks ago '07        #5
Windigo 31 heat pts31
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 mumbosauce said:
if they use the old music!!!!!!
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 2 weeks ago '14        #6
mumbosauce 267 heat pts267
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 Windigo said:
if they use the old music!!!!!!
They did for Spider-Man Homecoming. It's only right
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 2 weeks ago '05        #7
HiRolliN 110 heat pts110
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 CJ Schwarz said:
That's pretty quick
The mouse doesn't fu*k around
ExNihilo gave props
 
 2 weeks ago '17        #8
1Oh 1 heat pts
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Uncanny Xmen - Summer 2022
BXoldestgoon gave props
 
 2 weeks ago '14        #9
deadpoolsnow 107 heat pts107
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 2 weeks ago '17        #10
CJ Schwarz 1 heat pts
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 Whimsical said:
and he said that's the latest possible date too, so it might be happening sooner than that.
Im ready for the Secret Wars/Battle world crossover event in 202?


Only thing that sucks is how much market share Disney will have
 2 weeks ago '15        #11
Albazi1K95 8 heat pts
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No company should have so much power
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 2 weeks ago '16        #12
BXoldestgoon 30 heat pts30
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I wanna see the X-Men vs Fantastic Four
 2 weeks ago '07        #13
brand name 6 heat pts
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FX is one of my go to networks -- Disney better not fu*k it up (they will though)
 2 weeks ago '07        #14
pandadays 380 heat pts380
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 brand name said:
FX is one of my go to networks -- Disney better not fu*k it up (they will though)
Hope they do so you can complain like a bi*ch on BX
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 2 weeks ago '07        #15
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 pandadays said:
Hope they do so you can complain like a bi*ch on BX
I see class 07 -- I know you remember what ESPN was like before Disney scooped them, so don't act like my skepticism is unwarranted a.sshat
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