As of Wednesday morning, The Walt Disney Company's purchase of 21st Century Fox was finally completed, signifying one of the biggest moves in the history of the entertainment industry. The acquisition comes with fair share of concerns for the rest of the industry, especially those employed by Fox, as there are expected to be a substantial number of layoffs as the two companies become one. The pending decisions have become a major cause for concern all around the Fox lot, and for good reason.
While no decisions have been announced just yet, Disney chiefs Alan Horn and Alan Bergman attempted to ease the tension a bit with a memo sent out to the Fox employees. The email was titled "A New Chapter for The Walt Disney Studios" and it was released in its entirety online via Deadline.
You can read the full memo below:
"With the announcement that the Disney-Fox deal is officially complete, we begin an exciting new chapter in the history of both our companies and the industry. This is a major piece of the bold strategy Bob Iger has set for The Walt Disney Company as our business rapidly evolves.
"It's astounding and humbling to consider the rich, dynamic legacies of these storied studios and the endless possibilities ahead as we unite them. It's not something we take for granted as leaders, and we are looking forward to working together to build a team of unparalleled creativity and innovation.
"We've learned a lot in meetings held prior to deal close, yet there are many things that could not be discussed for regulatory reasons. We are happy to now have the chance to really understand and share how we operate at the ground level – and we realize we are only at the beginning of the process.
"Although there is much to look forward to, we know this integration will entail quite a bit of change across our organizations. We want to acknowledge that and assure you we are committed to engaging in this process thoughtfully and communicating changes as we are able – most importantly with respect for all involved.
"We'll be making announcements very soon about our senior leadership structure. It will take some time to reach our future fully integrated state. Day-to-day, our top priorities remain the same: to support the great content we're creating and deliver a superb experience to our consumers, and to continue to build an inspiring, inclusive environment where employees can bring their best to work every day.
"As we start this journey of bringing together the combined might of Disney and 21st Century Fox to create the best entertainment studio, we'd like to thank you all for everything you've done to bring us to this point and for your continued focus, support, and patience as we proceed."
There is expected to be some clarity on the looming decisions by the end of the week.
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