Today marked a milestone in the entertainment industry as the Walt Disney Company and 21st Century Fox shareholders went ahead and approved Disney’s $71.3 billion acquisition of Fox’s primary assets. This deal has been in the works for a longtime now and comic book fans have paid close attention to the matter. It’s the dream of many to finally see the X-Men and Fantastic Four realized on screen side-by-side with the Avengers, guided by Marvel Studios’ steady hand.
While this purchase of Fox’s properties is a massive deal, don’t expect to see Wolverine fighting the Hulk anytime soon. The deal is expected to wrap up around sometime in the middle of next year, which is fair, considering we’re talking about billions of dollars and massive properties.
However, Disney is getting more than just the rights to Deadpool, the X-men, and the Fantastic Four. Additionally, they will now possess National Geographic, FX Networks, a 31.9% stake in the U.K. broadband provider Sky, along with a 30% ownership in Hulu.
While lots of this is good news for the general public, as Disney slowly marches it ways to conquering the entire world, the merger is expected to also result in 5,000 layoffs from both parties.