It’s now done. Two years after The Walt Disney Company made the initial $52 billion bid to acquire the 21st Century Fox entertainment assets, and working through months of the legalities, the studio has finally completed the Disney-Fox merger. More on the report below.
The announcement was made over 21st Century Fox’s website, which says:
Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: TFCFA, TFCF) announced that it has today completed the distribution of all issued and outstanding shares of Fox Corporation (“FOX”) common stock to 21CF stockholders (other than holders of the shares held by subsidiaries of 21CF) on a pro rata basis (the “Distribution”). 21CF and FOX are now each a standalone, publicly traded company. FOX Class A common stock and FOX Class B common stock are now listed on the Nasdaq Global Select Market (“Nasdaq”) under the symbols “FOXA” and “FOX,” respectively. 21CF Class A common stock and 21CF Class B common stock, which were formerly listed on Nasdaq under the symbols “FOXA” and “FOX,” respectively, are now listed on Nasdaq under the symbols “TFCFA” and “TFCF,” respectively.
As previously reported, Disney was finally able to acquire Fox after Comcast had made a better offer. This forced the Mouse House to up their offer from its initial $52 billion offer to $71.3 billion. Soon after, the merger was approved by the Justice Department.
Of course, now that the acquisition is completed, Disney has the rights to Fox’s Marvel properties like X-Men and Fantastic Four. How soon we could see them integrated into the MCU remains to be seen. There’s still the matter of Dark Phoenix and a possible Deadpool 3. Additionally, Noah Hawley’s Doctor Doom film is in limbo. And while we will finally get to see the X-Men and Fantastic Four underneath the Marvel umbrella, the merger does come with a huge downside.
The issue at hand is what will happen to the 4,000-plus employees that are working at Fox. Mergers like these usually come at a high price, with many expected to lose their jobs. We will just have to see what the repercussions are after all of this.
[Source: 21 Century Fox]