First story is about a major media business deal in the U.S. Disney plans to buy 21st Century Fox. The deal is significant partly because of its size. These companies are known worldwide and they`re two of the biggest players in Hollywood.
Disney owns the Disney Studios, stores, theme parks and cruise line. It owns TV channels like ESPN and it has part of the Internet streaming service Hulu. Under the Fox umbrella, there are sports networks, the FX networks, National Geographic, hundreds of international channels and also part of Hulu.
And streaming entertainment is the big reason why Disney is spending $52.4 billion on Fox. It wants to expand its content online to better compete with rival companies like Netflix. In fact, Disney is taking its products off Netflix as Disney prepares to launch its own Internet streaming service. What`s not part of the deal: Fox News Channel, Fox Business Network and Fox Sports. They`ll be separated and formed into a new company.
When will all this happen? The deal is expected to take at least a year to go through, if it goes through. If first has to be approved by the U.S. government, which will consider whether the new company would have too much control over the market and what consumers pay.