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On December 14, 2017, after rumors of such a sale, The Walt Disney Company began its acquisition of 21st Century Fox for $52.4 billion after the spin-off of certain businesses, pending regulatory approval. [51] [52] [53] 21st Century Fox president Peter Rice stated that he expected the sale to be completed by mid-2019. [54]
On March 19, 2019, Fox Corp officially began trading on the S&P 500, replacing 21st Century Fox on the index. [9] Republican politician and former Speaker of the House Paul Ryan also joined Fox Corp's board at this time. [3] Under the terms of the acquisition, Disney will phase out the Fox brand usage by 2024. [26]
The building served as the global headquarters for the original News Corporation, founded by Australian-born businessman Rupert Murdoch in 1980. It continues to serve as the headquarters for subsequent spin-offs Fox Corporation (2019–present) and the present-day News Corp (2013–present), and until 2019, 21st Century Fox (2013–2019).
On July 15, 2014, then-corporate parent 21st Century Fox announced that it would merge the operations of the network and 20th Century Fox Television into the newly created Fox Television Group, with 20th Century Fox Television co-chairpersons Dana Walden and Gary Newman appointed to head the division. [54]
News Corp and 21st Century Fox are two companies that succeeded the original News Corp., which included Fox Entertainment Group and other broadcasting and media properties. [4] The spin-out was structured so that 21CF was the legal continuation of the original News Corp., with the new News Corp being a new company formed by a stock split.
21st Century Fox Announces Completion of Separation Premier Brands of Industry Leading Media and Entertainment Company Include Twentieth Century Fox, FOX, Sky, National Geographic, Fox News, STAR ...
Even though 21st Century Fox underperformed in the latest quarter while also lowering its outlook for its fiscal year, the market largely ignored the short-term results because it likes the ...
On December 14, 2017, Disney announced plans to purchase most of 21st Century Fox, including 20th Century Fox, for $52.4 billion. [79] After a bid from Comcast (owner of NBCUniversal) for $65 billion, Disney counterbid with $71.3 billion. [80] On July 19, 2018, Comcast dropped out of the bid for 21st Century Fox in favor of Sky plc and Sky UK.