Published: Fri, March 15, 2019
Finance | By Loren Pratt

Disney and Fox set date for completion of acquisition

Disney and Fox set date for completion of acquisition

"Eastern Time on March 20, 2019, subject to the satisfaction or waiver of the conditions to the consummation of the Acquisition set forth in the documentation governing such transaction", said the California-headquartered company in a statement. The $71.3 billion deal is scheduled to become effective at 12:02 a.m.

If the deal does indeed close by March 20 or thereabouts, it would free Marvel Studios to do whatever they like, say, in post-credits scenes or title cards in April 26's Avengers: Endgame to seed the future of properties and their place in the Marvel Cinematic Universe.

Disney won a bidding war a year ago against cable company Comcast Corp to acquire Fox's assets. Shareholders will have until Thursday to decide how much cash and Disney stock to receive after the acquisition, which totals $71.3 billion.

It also vastly reduces the empire of media mogul Rupert Murdoch and his family, who are planning a "new Fox" that includes the USA broadcast network and the Fox News Channel.

The close of the Disney-Fox deal will mean the X-Men and Fantastic Four characters will be at Marvel, which includes Deadpool, Wolverine, Silver Surfer, Galactus and more. What's more, Disney will be able to increase its stake in Hulu by half - from 30 to 60 percent.

Analysts expect that Disney will lay off at least 5,000 people - some on the Fox side, others on the Disney side - as a result of consolidation. Nonetheless, these parts usually overshadow the human prices of the deal, which can virtually actually lead to at the least 4,000 workers losing their jobs. For the executives of FOX like Peter Rice, Dana Walden, John Landgraf and Gary Knell, they will join Disney and assume important positions in the company.

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