Disney Fox Merger
Credits to 21st Century Fox / Walt Disney Company

On March 20th, Disney is set to close their acquisition of 21st Century Fox.

Disney announced the closing process Tuesday morning. The company has received the last major approval for the deal from regulators. Current 21st Century Fox shareholders have until 5 p.m. ET Thursday to choose the amount of cash and Disney stock to receive in the the transaction worth $71.3 billion.

Disney approximates it will receive about $13.8 billion in net debt from 21st Century Fox.

The merger of the companies will result in 4,000 layoffs. Overlapping operations are being eliminated and resources are being reallocated. The highest importance for Disney this year is the Disney Plus global streaming platform coming later this year.

Emma Watts will continue in her role as vice chairman of 20th Century Fox. Fox Searchlight chiefs Nancy Utley and Stephen Gilula and Fox 2000 president of production Elizabeth Gabler will continue in their roles.

21st Century Fox president Peter Rice shifts to the chairman of Walt Disney Television and co-chair of Disney’s Media Networks unit. Rice will oversee all aspects of Disney’s worldwide television operations other than ESPN, which is headed by Jimmy Pitaro.

As the merger is finalized we will be keeping you updated on all major changes.

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