It would seem that the Disney deal to acquire 21st Century Fox is running full steam ahead and we now know when everything will be completed.
During a town hall meeting on the Fox lot, executive Peter Rice told employees that the deal is expected to close on Jan. 1, 2019. Rice is set to become a top TV executive at Disney following the deal, and he was joined on stage by 21st Century Fox COO John Nallen who will become the COO of the New Fox that survives post-merger.
The two executives worked in concert to quell the fears of employees no matter which company they would be a part of come the New Year. Rice did acknowledge, however, that would indeed be layoffs due to redundancies between the two companies.
Once this deal closes, Disney will pick up a staggering amount of intellectual property to play with. The TV catalog alone will be enough to keep Hulu – which Disney will now own 60 percent of – stocked for years to come. Jan. 1 may be when the keys are handed over, but sorting through everything Disney purchased could take years. And, of course, with the rights of the X-Men and Fantastic Four back in the hands of Marvel, a lot of planning is going to need to happen and quick.
Expect this deal to reverberate for years.