Disney releases a new filing with the SEC that updates their acquisition of Fox Studios with mention it is expected to go through before June, which includes the X-Men, Star Wars and Avatar.
The filing states in part:
21st Century Fox Acquisition: Entered into revised agreement to acquire 21st Century for $38/share with cash or stock optionality for shareholders; exptected deal will close before June 2019.
The filing also offers how the Fox acquisition will benefit Disney which happens to include images for James Cameron’s Avatar, the X-Men and for Star Wars: Episode IV – A New Hope, as Fox owns the rights to the original Star Wars movie. Regarding the X-Men, Disney will get all the related characters which include Deadpool, Wolverine and more, and also the Fantastic Four characters, which includes Silver Surfer, Galactus and more.
It’s nice to see Disney highlighting the X-Men in their reports, which obviously means they have big plans for the franchise.
Here is relevant info and images. You can check out the official filing here.
The 21st Century Fox acquisition reflects our vision for the future (On track to complete transaction before June ’19):
• Creating exception creative content by expanding iconic franchises for new generations of fans around the world
•Growing out global presence through the addition of international content and distribution in key markets, as well as global platforms that complement our existing business
•Innovatively using cutting edge technology by accelerating out DTC strategy and expanding our content offerings, which is vital to the future of media business and will allow us to better serve consumers across the worldKey anticipated financial benefits include $2B in cost synergies by 2021, EPS accretion for 2nd fiscal year post-close, and accleeration of revenue and operating income growth trajectory
