Disney to Take Over 21st Century Fox on March 20

On March 20th Disney’s $71 billion dollar deal for most f 21st Century Fox will take effect, merging the two movie studios, while giving Disney the controlling stake of Hulu, FX channel, Nat Geo channel and other assets.

The parts of 21st Century Fox that Disney is not purchasing: Fox Broadcasting Network, Fox News and Fox Sports, will be spun into a new company that will be called Fox.

Of course with the merger will come layoffs to staff at both 21st Century Fox and the Walt Disney Company:

Analysts expect that Disney will lay off at least 5,000 people — some on the Fox side, others on the Disney side — as a result of consolidation. The company has not commented on the specific plans, but investors have been told to expect “at least $2 billion in cost synergies by 2021 from operating efficiencies realized through the combination of businesses.”

The $71 billion dollar offer was accepted last July, but due to the scope of the merger, it took several months to gain the regulatory approvals and reach the point of completion. As of next Wednesday it will finally move forward.

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Source: CNN