Media

And Now There Are 5 (Corporations That Own The Media)

Disney Buys Much of Fox in Megamerger That Will Shake World of Entertainment and Media

The Washington Post | Richard Drew/AP

NEW YORK — The Walt Disney Company, an entertainment firm as sprawling as one of its landmark theme parks, has pulled off one of the largest media mergers in history by acquiring the majority of assets from rival 21st Century Fox.

The announcement resets the Hollywood power grid. Disney, the nation’s largest studio by box office returns and the company behind the Marvel and “Star Wars” franchises, is acquiring Fox, the third-largest studio by that metric, known for the blockbuster “X-Men” and “Avatar” franchises as well as a host of mid-budget crowd pleasers and critically acclaimed films.

It also brings brands such as FX, National Geographic and “The Simpsons” into the same fold as ESPN and ABC — all part of Disney’s gamble that a beefed-up company will be better equipped to tackle a slew of Silicon Valley giants.

Disney will pay $52.4 billion for Fox, which for its part will spin off Fox broadcast networks, the Fox News Channel and Fox Business Channel, the Fox studio lot in Los Angeles and several national sports channels, leaving them in the hands of 21st Century Fox chairman Rupert Murdoch and his family. Robert Iger, the chairman and chief executive of Disney who had been discussed as a potential 2020 presidential candidate, will continue with the combined firm through 2021. (Read More)


The 6 Companies That Own almost All Media
Created by WebpageFX

Advertisements

One thought on “And Now There Are 5 (Corporations That Own The Media)

  1. Pingback: Mass Media Monopoly – Censors Must Die

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.