The Walt Disney Company’s acquisition of 21st Century Fox will become official early Wednesday morning, with Fox News becoming a key part of the newly created Fox Corporation. “We are thrilled to welcome our new colleagues to the Fox board,” Lachlan Murdoch said in a statement. While Fox News and other television assets largely make up Fox Corp., Disney bolsters its content library with a plethora of new intellectual property such as “X-Men” and “Deadpool” by acquiring most of 21st Century Fox. The mega deal, which was first announced back in 2017, included a contract extension for Disney CEO Bob Iger so that he is around to oversee the merger. Disney will take over the movie studio and entertainment cable channels of 21st Century Fox when the deal officially closes at 12:02 a.m.

Source: Fox News March 19, 2019 15:45 UTC