You can say goodbye to old-school Hollywood.
Disney has officially acquired 21st Century Fox for $52.4 billion. As far as I'm concerned, this is a direct threat to creatives everywhere.Disney now has new franchises X-Men, “Alien,” and “Avatar” at their disposal, which adds a significant amount of films to their upcoming streaming service, set to debut in 2019.
This new deal might make Disney more powerful than all of Hollywood. This much media controlled by one company is a dangerous affair but we'll see if Disney uses it responsibly, which I doubt by the way, they want to make as much money as possible from this.
“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” Disney chairman and CEO Bob Iger blandly said in a statement. Incidentally, he has also extended his contract through 2021, so you can rule out any whispers of a political campaign for 2020.
[Variety]