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Before the release of "Jimmy Kimmel Live!" On the East Coast, Disney will formally end its deal for its 21st Century Fox acquisition, for $ 71 billion.
"This is an extraordinary and historic moment for us – an event that will create significant long-term value for our company and our shareholders," said Bob Iger, Disney's President and CEO, in a statement Tuesday afternoon. "The combination of the rich creative content of Disney and 21st Century Fox and its proven talent creates the ultimate global entertainment company, well positioned to lead an incredibly dynamic and transformative era."
It is expected that Disney will take possession of 21st Century Fox at 12:02 pm ET. Assets that change hands in the deal include Twentieth Century Fox, Fox Search Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox's television production units, Twentieth Century Fox Television, FX Productions and Fox21; FX networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox's interests in Hulu, Tata Sky and Endemol Shine Group.
Disney said the deal is designed to help the company "grow its international footprint" and "expand its direct sales offerings to consumers."
Earlier on Tuesday, 21st Century Fox completed the separation of the badets transferred to Disney and those forming the foundation of Fox Corporation, which began trading on the Nasdaq as an autonomous entity on Tuesday morning. The shares of Fox Corp. opened at $ 41.55, down 3.2% at market close, to $ 40.34.
While Disney and Fox Corp. s in a new world order, employees of both companies are preparing for the impact of large-scale layoffs coming to Burbank and Century City. The number of reductions could reach 4,000 positions. Disney was still informing some 21st Century Fox senior employees of their status with the new company no later than Monday.
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