- December 15, 2017
- Posted by: Godwin Elijah
- Category: Entertainment News
Walt Disney has agreed to buy the bulk of 21st Century Fox’s business for 52.4billion dollars, in a deal both companies said position them to compete in the rapidly changing media industry.
The purchase includes Fox’s film and television studios, as well as its 39% stake in satellite broadcaster, Sky.
Fox will form a news-focused company with its remaining assets.
The move is a sharp shift for 86-year-old Fox owner Rupert Murdoch after more than half a century of media expansion.