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Disney-Fox mega-deal set to close March 20

AFP  |  New York 

said Tuesday it would close its blockbuster deal for the film and television assets of on March 20, a deal likely to reshape the

The USD 71 billion deal gives Disney the prized 20th Century and other media production units.

It also vastly reduces the empire of media mogul and his family, who are planning a "new Fox" that includes the US and the Fox Channel.

The Disney-Fox deal comes amid a shifting where the "legacy" producers controlling Hollywood are seeking to fend off competition from emerging streaming firms including and

Disney is expected to launch a rival streaming platform later this year, and is expected to launch its own service as well.

The deal gives Disney the 20th Century along with a controlling stake in Hulu, the created by to challenge and Disney already owns the ABC broadcast television network, sports broadcasting group and Hollywood film studios along with theme parks around the world.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 21:50 IST