Disney to acquire most Fox assets for $52.4 billion in historic deal

Rebecca Zisser

Walt Disney Company announced Thursday that it has agreed to acquire the entertainment assets of 21st Century Fox, including Fox's movie studio and entertainment television networks, as well as Fox's international TV assets. Bob Iger will remain CEO and Chairman of Walt Disney through 2021, instead of 2019, as previously announced. Fox says it will created a "New Fox" brand that consists of highly-rated news, sports and broadcast businesses.

Why it matters: The deal would give Disney the scale to take on Netflix, but first it will need to convince regulators that it doesn't pose the same sort of monopoly risk as AT&T's proposed purchase of Time Warner.