First Walt Disney Studios took over the Star Wars franchise, but now they are taking over 21st Century Fox! Disney made a 52 billion dollar deal with Fox and will own most of the assets. Fox was in debt and had to sell the company regardless, so Disney ended up jumping on board quickly. Fox television studio that broadcasts series such as "This is Us," "The Simpsons," and "Homeland" will also be owned by Disney.
The strategy behind the takeover is for Disney to be a strong enough force to compete with Netflix, Amazon, Google, and Facebook, which each have a strong online presence when it comes to streaming. Due to this takeover, 20th Century Fox, which has produced huge Hollywood films like Avatar, is likely to be downsized.
Since Disney announced its official departure from Netflix starting in 2019, it was a sign that Disney had something bigger planned. It will be interesting to see the outcome of the company's grand venture for the entertainment industry!
By: Alaina Pawlowicz
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