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Disney-Fox Deal To Close By Summer 2019


 


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 9 months 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"

 9 months ago '14        #2
mumbosauce 271 heat pts271
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[video - click to view]


 9 months ago '17        #3
CJ Schwarz 69 heat pts69
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That's pretty quick

 9 months ago '17        #4
Whimsical 29 heat pts29
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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.

 9 months ago '07        #5
Windigo 32 heat pts32
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 mumbosauce said
if they use the old music!!!!!!

 9 months ago '14        #6
mumbosauce 271 heat pts271
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 Windigo said
if they use the old music!!!!!!
They did for Spider-Man Homecoming. It's only right

 9 months ago '05        #7
HiRolliN 111 heat pts111
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 CJ Schwarz said
That's pretty quick
The mouse doesn't fu*k around

 9 months ago '17        #8
1Oh 6 heat pts
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Uncanny Xmen - Summer 2022

 9 months ago '14        #9
Comicsnow 115 heat pts115
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 9 months ago '17        #10
CJ Schwarz 69 heat pts69
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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

 9 months ago '15        #11
Albazi1K95 8 heat pts
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No company should have so much power

 9 months ago '16        #12
BXoldestgoon 43 heat pts43
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I wanna see the X-Men vs Fantastic Four

 9 months 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)

 9 months ago '07        #14
pandadays 421 heat pts421
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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

 9 months ago '07        #15
brand name 6 heat pts
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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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