BURBANK, Calif. (AP) - 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.
(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
- More grant money to juvenile court expands therapy for teens and parents before doing jail time
- Edgefield County murder arrest
- Sheriff says agency is doing some "soul searching" after 4 deputies arrested
- Thief steals cremated remains, hot dogs, whiskey from Spartanburg home
- Teacher says she was fired for giving students zeroes
- Rescued sacrificial rooster terrorizes neighborhood
- Ohio man calls police after pig won't stop following him
- Sheriff: Man helped give goat whiskey, cocaine
- VIDEO: Two guys try ‘tall man' trick to get into Black Panther
- Nearly a dozen day care workers say parent's cookies made them high
- Simple sketch helps police identify theft suspect