Disney to Buy Fox’s TV, Entertainment and Cable Networks for $52.4 Billion

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Santa visited Rupert Murdoch early this year with Disney’s (NYSE: DIS) agreement to buy 21st Century Fox’s film and TV studios, cable networks and international TV businesses for $52.4 billion in an all-stock transaction. Fox (NASDAQ: FOXA, FOX) will spin off its broadcasting network and stations, Fox News, Fox Business, FS1, FS2 and Big Ten Network to its shareholders. As part of the deal, Robert A. Iger has agreed to stay on at Disney at chairman and CEO through 2021.

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