When Was Fox News Acquired by Disney?
When Was Fox News Acquired by Disney?
Many people often confuse the acquisition of 21st Century Fox by The Walt Disney Company in 2019 with the ownership of Fox News. This article aims to clarify the details and answer the question: When was Fox News bought by Disney, and what were the actual acquisition details?
Overview of 21st Century Fox Acquisition
The acquisition of 21st Century Fox by Disney in 2019 was one of the most significant business moves in the entertainment industry. However, it is crucial to understand that not everything owned by 21st Century Fox was included in this deal.
Why Fox News Was Not Included in the Deal
The reason Fox News was not part of the acquisition is multi-faceted and concerns regulatory and business compliance issues. Specifically, American antitrust laws were a significant factor. Microsoft, which bought a stake in Fox in 2013, had already restricted the company's ability to own broadcasting networks. This factor played a significant role in ensuring that Disney acquiring Fox News would violate anti-trust regulations.
Spin-Off of Fox News and Related Assets
Instead of including Fox News in the acquisition, Fox decided to spin off the news division and other related broadcasting assets into a new company known as the Fox Corporation. This newly formed entity was run by Rupert Murdoch and his son Lachlan. The Fox Corporation held several significant broadcasting assets, including Fox News, Fox Broadcasting Company, Fox Sports, and Fox Business.
What Disney Actually Acquired
Over the course of the acquisition, Disney acquired most of the assets from the former 21st Century Fox. This included a wide array of media properties, entertainment studios, publishing assets, and more. However, the key takeaway is that Fox News, a significant media entity, was not among the acquired assets.
Specific Assets Transferred to Disney
According to the official terms of the acquisition, Disney obtained major components of the former 21st Century Fox, excluding the Fox News Channel, Fox Sports, and other broadcasting properties. The transferred assets include, but are not limited to:
Fox Searchlight Pictures 20th Century Studios Fox Film Distribution Fox International Channels Marvel EntertainmentCurrent Ownership Structure
As of now, Fox News remains independent from Disney, with its ownership controlled by the Fox Corporation. Here is an outline of the current ownership structure:
Fox Corporation Fox Broadcasting Company Fox News Fox Business Fox Sports 1 Fox Sports 2Wrap-Up
In conclusion, the acquisition of 21st Century Fox by Disney in 2019 did not include Fox News, which remains part of the Fox Corporation. Understanding the intricacies of media property ownership in the United States is crucial for analyzing the current landscape of the media and entertainment industry.