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More than a year after the first announcement of the deal, it appears that Disney's acquisition of 21st Century Fox is nearing completion.
Disney announced today that the agreement "is expected to come into effect at 8:02 pm Eastern Time on March 20, 2019", suggesting that it has obtained the required final approval, particularly from the from Mexican regulators.
Disney had originally agreed to acquire Fox for $ 52.4 billion, before a counter offer from Comcast required it to increase its offering to $ 71.3 billion.
The acquisition will allow Disney to purchase Fox's film and television studios, which will give it control over the "Avatar" franchise and the filming rights of several Marvel characters, including the Fantastic Four, the X- Men and Deadpool. This will allow Disney to double its stake in Hulu, from 30 to 60 percent.
The merger of the two giants of entertainment should also lead to more than 4,000 layoffs.
Meanwhile, Fox News, the Fox broadcast network and other assets that Disney does not buy, are being transformed into a new entity called Fox Corporation.
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