Disney and 21st Century Fox made waves last year with their landmark deal, and now Disney's CEO has given fans an update.
Disney CEO Bob Iger spoke to investors on the Quarter 1 earnings call, where he addressed the acquisition of 20th Century Fox (among other properties), how the deal is progressing, and what the next steps are.
"Thanks, Low, and good afternoon, everyone," Iger said. "Before we discuss the quarter and other developments across the company, a quick update about our recently announced acquisition. The regulatory process has begun in numerous jurisdictions across the world. And I spent the last several weeks meeting with a number of business leaders at Fox, gaining insight that will be invaluable when it comes to integrating our organizations once we have regulatory approval."
Those regulatory processes that Iger is referring to could allow other companies to place a bid on the assets from 21st Century Fox, with the most recent rumor indicated Comcast might want to get into the mix.
After that hurdle is cleared, Iger is excited not only about the new content but the teams and talent that are coming with those projects and IP.
"After these discussions, I'm even more enthusiastic about the businesses we're acquiring and the management teams that are leading them. As we said, when we announced this deal, there are three primary strategic priorities fulfilled by this acquisition. It will deliver more content and the production capabilities and talent to produce even more. It will enhance our direct-to-consumer initiatives with platforms, technologies, brands and existing customer relationships to build on. And it will greatly diversify our businesses geographically. All three of these elements sync up perfectly with our own core strategies, and all three are designed to create growth in a very dynamic global marketplace."0comments
The massive deal gives Disney 21st Century Fox's film and TV divisions (including FX but not FOX), multiple regional sports networks, Fox's share in Sky, and Fox's 30% stake in Hulu.
Up next for Disney is Black Panther, which hits theaters on February 16.