Itâ€™s been a very busy year for Walt Disney Studiosâ€™ Alan Horn. After acquiring Marvel and Lucasfilm in recent years, the CEO helped the studio make its biggest acquisition yet, 21st Century Fox’s entertainment assets.
Now, after months of working out the legalities, and waiting for approval from the Department of Justice, the Mouse House can officially call the once competing studio their own on March 20, 2019. More on the report below.
Per Deadline, Disney has locked in a March 20th closing date for the acquisition. According to the report Disney made the announcement in a release, in which they revealed that they had received the final required approval from regulators in Mexico.
Back in June of 2018, Disney bought Fox for $71.3 billion. Nearly $20 billion more than the amount they had initially offered. This was due to Comcast also making a bid to acquire Fox, forcing Disney to raise its offer when they came in with a higher and better offer than Disney’s $52 billion offer.
While the news is cause for celebration for those who have been waiting a long time to see the X-Men and Fantastic Four be a part of the MCU, we must not forget about the number of jobs that will be lost in this gigantic merger. Reports say that up to 4,000 employees, working in a variety of positions at the studio, could lose their jobs.
The acquisition will become effective at 12:02 AM EST on March 20. Fox shareholders will receive a mix of cash and stock valued at $38 a share in the deal. And even after it is all said and done, it will still be a while before Fox’s properties can fall under the Disney umbrella. There’s no telling when that will actually happen, but you can be sure it will happen eventually. And when it does, we will be seeing a new wave of Marvel heroes expanding the MCU.