By Kristen Barnard, Past Writer
There have been recent rumours and statements of the world famous film studio Disney acquiring 21st Century Fox! What is there to come of this new deal?
As many of us know, the famous and academy award-winning Walt Disney Studios have been creating unforgettable movies and stories that have built our childhoods. From the modern sensations like Moana and Coco right back to the heart-warming classics Cinderella and Peter Pan, Disney have never failed to impress the world with their unique sense of imagination and have spread the thought that anything is possible.
Walt Disney Studios was founded on the 16th of October 1923, and released their first motion picture film ‘Snow White and the Seven Dwarfs’ on December 21st 1937. Back then Disney made only $39,000; now they are making roughly $36,219,178.08 per day over all of their business units! The film studio has reached an unbelievable popularity rate in the last 96 years, and are reaching even more heights in 2018/19 with the release of the new sequels like Mary Poppins returns, Toy Story 4, and the Incredibles 2.
However, if you didn't know already, Disney have paired up and bought many companies over the years like Pixar in 2006 and Lucasfilm (responsible for Star Wars) in 2012. Well, it was stated on the 14th December 2017 that Disney had announced the definitive agreement to acquire the just as brilliant 21st Century Fox for $52.4 billion in stock! But, the parent company of NBCUniversal, Comcast, had also made their own special offer on June 13th 2018 with a $65 billion all cash proposal. This overpowering offer was the start of a truly significant bidding war.
Finally, about a week or so later, Disney had put their foot down and came out with a whopping $71.3 billion bid! With this, Comcast decided that they could not go on and eventually put a stop to the two companies obscenely enthusiastic battle to acquire Fox. This was a major defeat for Comcast, however they moved on to focus on their other missions for Sky plc. On Disney’s hand, they succeeded with triumph and went on with Fox and approved the acquisition on July 27th 2018, and the deal has been expected to close by June 2019!
All in all Disney have a real charm for many of the other film/animation studios out there and I’m sure that others, like myself, are so excited to see the many movies to come of the great combination of talents from both Walt Disney Studios and 21st Century Fox in the future!
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