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Disney buys 21st Century Fox for $52.4 billion

Disney buys 21st Century Fox for $52.4 billion
[Photo: Drew Angerer/Getty Images]

The purchase was lower than the $75 billion reported by Reuters earlier. As part of the deal, Disney will assume over $13 billion of Fox’s debt and Disney CEO Bob Iger will stay on until at least 2021. In addition to acquiring Fox’s movie and television studio, Disney will also assume control of the Sky television network in the U.K. and the National Geographic and FX cable channels. Disney will also acquire Fox’s stake in streaming service Hulu, reports CNBC. Fox will retain the Fox News cable channel as well as Fox Sports.MG