The deal does not include Fox Broadcasting network and stations, Fox News, Fox Business, FS1, FS2 and Big Ten Network, which will be spun off to Fox shareholders.
Several entertainment properties including X-Men, The Simpsons, FX Networks, and National Geographic will now be part of Disney’s portfolio.
According to a press release from Disney: “Under the terms of the agreement, shareholders of 21st Century Fox will receive 0.2745 Disney shares for each 21st Century Fox share they hold.”
In a statement Disney CEO and Chairman Robert Iger said, “The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before.”
As part of the deal Iger will stay in his role as chairman and CEO until the end of 2021.