It’s almost here. After several months of intense, behind-the-scenes action, most of 21st Century Fox’s assets will be acquired by the Walt Disney Company. It’s a big moment, as it sees to large studios consolidating under one roof (though there will be a part of Fox that goes off on its own, but that by and large, the studio and TV aspects are under Disney now), and could be seen as one of the more influential moments in the business.
Now, 21st Century Fox is announcing that this deal will be done by late tonight, early tomorrow. More specifically, it will go into effect at 12:02 a.m. tomorrow morning. Here’s what they had to say in an official statement.
“Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: TFCFA, TFCF) announced that it has today completed the distribution of all issued and outstanding shares of Fox Corporation (“FOX”) common stock to 21CF stockholders (other than holders of the shares held by subsidiaries of 21CF) on a pro rata basis (the “Distribution”). 21CF and FOX are now each a standalone, publicly traded company. FOX Class A common stock and FOX Class B common stock are now listed on the Nasdaq Global Select Market (“Nasdaq”) under the symbols “FOXA” and “FOX,” respectively. 21CF Class A common stock and 21CF Class B common stock, which were formerly listed on Nasdaq under the symbols “FOXA” and “FOX,” respectively, are now listed on Nasdaq under the symbols “TFCFA” and “TFCF,” respectively.”
Of course, this means that Disney will now own the X-Men and Fantastic Four, as well as big properties like Avatar. So, basically, they will pretty much own the world for the foreseeable future. I, for one, look forward to seeing how this shapes the industry!
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SOURCE: 21st Century Fox