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Expand chart
Reproduced from Walt Disney Company; Chart: Axios Visuals

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.

Why it matters: The new mega-media company will nearly double in size, giving it better leverage to compete with tech giants like Netflix for entertainment viewership and more opportunities to expand Disney's legacy sports brand, ESPN.

The deal brings together two of Hollywood's "Big 6" movie studios, Walt Disney Studios and 20th Century Fox. It will now own 7 of the 10 highest-grossing films:

  1. Avatar (Fox)
  2. Titanic (Fox)
  3. Force Awakens (Disney)
  4. Jurassic World
  5. The Avengers (Disney)
  6. Furious 7
  7. Avengers: Age of Ultron (Disney)
  8. Harry Potter and the Deathly Hallows: Part II
  9. Frozen (Disney)
  10. Beauty and the Beast (Disney)

It also increases Disney's intellectual property with new movie franchises, like Star Wars. X-Men, Avatar, Deadpool and Fantastic Four, in addition to its mega-franchises Pixar, Disney, Marvel Film. This content will be used to power Disney's new entertainment subscription streaming app that launches in 2019.

Disney will now own several new entertainment TV channels, like FX, Star and Nat Geo TV, on top of some of its own channels like ABC and Disney Channel. Some of this content could be used for Disney's entertainment streaming app, or for Hulu, in which it now has a majority stake. Sources have suggested that Hulu could feature more adult-friendly content than its own streaming app, which would give more consumers choice.

The merger dramatically enhances ESPN's sports footprint, giving Disney access to three of Fox's international sports distribution franchises: Sky Sports (UK/Europe), Star Sports (India) and Fox Deportes (Latin America). Most notably, it also gives Disney access to Fox's 22 Regional Sports Networks in the United States.

Disney now has some international distribution assets to compete with Netflix abroad.

  • The merger gives Disney minority stake in Sky's streaming property, which reaches consumers directly in the U.K. and Europe and Tata Sky, a direct TV provider in India.
  • Disney also gets access to Hotstar, Fox's massively-successful Indian streaming company that just beat out Facebook for IPL cricket rights.
  • These direct-to-consumer assets coupled with a majority stake in Hulu create a power-distribution center for Disney to stream its expanded content portfolio all over the world.

Go deeper

NRA files for bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for voluntary bankruptcy as part of a restructuring plan.

Driving the news: The gun rights group said it would reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment." Last year, New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

33 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.