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Disney buying large part of 21st Century Fox in $52.4 billion deal

Disney is launching new streaming services, which could be helped with the addition of the Fox assets.

business Updated: Dec 14, 2017 17:58 IST
Associated Press
Associated Press
Associated Press, Burbank
Disney,Century Fox,Fox Business Network
The logo of the Disney store on the Champs Elysee is seen in Paris.(Reuters File)

Disney is buying a large part of the Murdoch family’s 21st Century Fox in a $52.4 billion deal, including film and television studios, cable and international TV businesses as it tries to meet competition from technology companies in the entertainment business.

Before the buyout, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

The entertainment business is going through big changes. Tech companies are building video divisions. Advertisers are following consumer attention to the internet. And Disney is launching new streaming services, which could be helped with the addition of the Fox assets.

First Published: Dec 14, 2017 17:57 IST