Disney’s acquisition of 21st Century Fox will be official shortly after midnight tonight. The two heavy hitters are on the cusp of becoming a giant industry titan, but uncertainty still surrounds the coupling. From employees to departments and even projects, there are going to be a lot of redundancies. Who Disney will keep on and what projects will still move forward is anyone’s guess at the moment.
In the meantime, 21stCentury Fox has released an official press release on the impending merger. Read part of the release below:
“21ST CENTURY FOX ANNOUNCES COMPLETION OF DISTRIBUTION IN CONNECTION WITH DISNEY ACQUISITION NEW YORK, New York, March 19, 2019 – Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: TFCFA, TFCF) announced that it has today completed the distribution of all issued and outstanding shares of Fox Corporation (“FOX”) common stock to 21CF stockholders (other than holders of the shares held by subsidiaries of 21CF) on a pro rata basis (the “Distribution”).
21CF and FOX are now each a standalone, publicly traded company. FOX Class A common stock and FOX Class B common stock are now listed on the Nasdaq Global Select Market (“Nasdaq”) under the symbols “FOXA” and “FOX,” respectively. 21CF Class A common stock and 21CF Class B common stock, which were formerly listed on Nasdaq under the symbols “FOXA” and “FOX,” respectively, are now listed on Nasdaq under the symbols “TFCFA” and “TFCF,” respectively. The Walt Disney Company’s (“Disney”) acquisition of 21CF will become effective at 12:02 a.m. Eastern Time tomorrow, March 20, 2019…”
The release goes on to break down the legal jargon of the merger. Click here to read it in its entirety.
The outcome of this giant merger remains to be seen, but the geekverse is certainly excited about the possibilities. With Disney’s acquisition of Fox comes the use of a slew of new characters. Picture Hugh Jackman dusting off the claws to team with Spiderman, or a Fantastic Four movie that is actually done right. The possibilities are endless.
Disney looks to be transforming into an unstoppable force with Fox joining a family that already consists of Marvel and Lucasfilm. Only time will tell how this all plays out.
Which Fox Franchises are you excited to see Disney take over? Let us know in the comments below.