Listen: Disney Closes On $71 Billion Acquisition Of Fox's Entertainment Business
"Support for this podcast and the following message. Come from e-verify, delivering the technology to help employers verify work eligibility for new employees evolving to support the needs of your workforce at either five dot gov slash go. Let's go higher. Many a movie begins with this brass fanfare. It's the signature of film by twenty first Century, Fox just after midnight that music and the studios behind it became part of the Disney empire NPR. Tv critic Eric Dagens has been following a huge merger and he's on the line. Eric morning, Dan. Yeah. You know, I'm reminded that chipmunks did a version of that. Maybe we'll get to hear that we can hope for that. We can hope for that. Okay. So that combines with the people who did when you wish upon a star on and on how big a deal is this. It's a huge deal. One of the biggest media deals in recent history. Regulatory agencies across the world had to sign off on this deal, including the US department of Justice, which may Disney sell off a bunch of regional sports networks that FOX own just to keep them from dominating too much of the sports TV industry here. So yeah, this is this is a big deal. What does Disney get? I mean, what what that had the label FOX on. It goes over to Disney. So this is a seventy one point three billion dollar deal and involves two of the biggest studios in Hollywood. So there's a lot of names involved in this and TV and film that folks will recognize so so Disney gets outlets like Twentieth Century, Fox television, which produces shows like empire and modern family. They get FOX animation and National Geographic partners. Now, FOX meanwhile has created this slimmed-down company to include a lot of the stuff that Disney didn't by. So they have Fox News channel, FOX business network. The FOX broadcast network and Fox Sports. And in fact, the former speaker of the house Paul Ryan was named to the board of that new FOX corporation, so Rupert Murdoch's family, which of course, is controlled FOX Murdoch keeps the stuff which we can imagine is closest to his heart like, the Fox News channel and gets rid of some of this other stuff, right? A company that's a little more focused on news and sports. Okay. Couple of consequences here. One. You could imagine a bunch of layoffs as these two companies, consolidate is that likely. Yeah, there's a lot of concern in fear at lower levels in the entertainment industry that thousands of people could lose their jobs when Disney starts to consolidate its film and TV properties. We've already heard about some of these bigger executives who are going to shuffle around. You know, there's some folks from FOX high level TV executives that are gonna move over to Disney to help run their TV outfits, and then a big -secutive for maybe AMC was moved over and took a job running, FOX entertainment. So this is going to be interested and will this change? What we see? Oh, yeah. Oh, yeah. And this is another step in the streaming wars in a way, you know, Disney is getting bigger to compete with Amazon net. Flicks. The, you know, everything from Star Wars to dub dead pool is going to be in the same home, the Saint corporate home, they have the streaming service called Disney plus starting up so they're going to get a lot of material. That they're getting a controlling stake in Hulu, which is another streamer. There's a sense that some of the more adult oriented stuff might end up on Hulu and the more family stuff might end up on Disney. Plus, and then there's the question of what's going to happen with Disney owned ABC and FOX broadcast network once they have twelve months to really develop some new programming for each of those broadcasters, and we should note the Twentieth Century, Fox and Walt Disney pictures are both financial supporters of NPR and we've been listening to NPR TV critic, Eric Eric. Thanks. All right. Thank you. This message comes from NPR sponsor. Comcast business. Business has always been driven by innovators. That's why Comcast business is helping you with technology that provides better experiences. Comcast business beyond fast."