By Mae Anderson, Technology Writer
LOS ANGELES (AP) --Disney has closed its $71 billion acquisition of Fox's entertainment business, putting "Cinderella," ''The Simpsons," ''Star Wars" and "Dr. Strange" under one corporate roof.
The deal is likely to shake up the media landscape. Among other things, it paves the way for Disney to launch its streaming service, Disney Plus, due out later this year. It will also likely lead to layoffs in the thousands, thanks to duplication in Fox and Disney film-production staff.
By buying the studios behind "The Simpsons" and X-Men, Disney aims to better compete with technology companies such as Amazon and Netflix for viewers' attention – and dollars.
Disney needs compelling TV shows and movies to persuade viewers to sign up and pay for yet another streaming service. It already has classic Disney cartoons, "Star Wars," Pixar, the Muppets and some of the Marvel characters. With Fox, Disney could add Marvel's X-Men and Deadpool, along with programs shown on such Fox channels as FX Networks and National Geographic. Fox's productions also include "The Americans," ''This Is Us" and "Modern Family."
The deal helps Disney further control TV shows and movies from start to finish – from creating the programs to distributing them though television channels, movie theaters, streaming services and other ways people watch entertainment. Disney would get valuable data on customers and their entertainment-viewing habits, which it can then use to sell advertising.
Disney CEO Bob Iger said in an earnings call in February that Disney Plus and other direct-to-consumer businesses are Disney's "No. 1 priority."
Cable and telecom companies have been buying the companies that make TV shows and movies to compete in a changing media landscape. Although internet providers like AT&T and Comcast directly control their customers' access to the internet in a way that Amazon, YouTube and Netflix do not, they still face threats as those streaming services gain in popularity.
AT&T bought Time Warner last year for $81 billion and has already launched its own streaming service, Watch TV, with Time Warner channels such as TBS and TNT, among other networks, for $15 a month.
In addition to boosting the Disney streaming service, expected to debut next year, the deal paves the way for Marvel's X-Men and the Avengers to reunite in future movies. Though Disney owns Marvel Studios, some characters including the X-Men had already been licensed to Fox.
Disney also gets a controlling stake in the existing streaming service Hulu, which it plans to keep operating as a home for more general programming. Family-friendly shows and movies will head to Disney Plus.
No pricing has been disclosed for Disney Plus. The streaming service will feature five categories of material: Disney, Pixar, Marvel, Star Wars and National Geographic. Disney charges $5 a month for ESPN Plus, a service that offers programming distinct from the ESPN cable channel.
Meanwhile, Fox Corp. — the parts of 21st Century Fox that are not part of the deal, including Fox News, Fox Sports and Fox Broadcasting — started trading on the Nasdaq under the "FOX" and "FOXA" tickers on Tuesday.
“Dune: Part Two” and “House of the Dragon” Win 2 HPA Awards Apiece
Dune: Part Two and House of the Dragon each scored two HPA Awards during a gala ceremony at the Television Academy’s Wolf Theatre in North Hollywood, Calif. on Thursday night (11/7). The HPA Awards honor trailblazing talent in the postproduction industry, celebrating standout achievements in color grading, sound, editing, restoration, and visual effects across theatrical features, commercials, and episodics.
Dune: Part Two topped the Outstanding Color Grading--Live Action Theatrical Feature and the Outstanding Sound--Theatrical Feature categories.
House of the Dragon’s two wins were for “The Red Dragon and the Gold” episode which scored for Outstanding Visual Effects--Live Action Episode or Series Season, and Outstanding Editing--Episode or Non-Theatrical Feature (Over 30 Minutes). In the latter HPA Creative Category, House of the Dragon tied with the “Part Six: Far,l Far Away” episode of Ahsoka.
The HPA’s Judges Award for Creativity and Innovation honored Taylor Swift | The Eras Tour. This recognition celebrates the profound impact on both live and filmed entertainment that defined The Eras Tour, underscoring its exceptional impact on audiences and the industry. The jury issued a statement outlining their choice: “Celebrated as the cultural phenomenon of 2023, Taylor Swift | The Eras Tour set new records in box office sales, tour revenues, and attendance. The tour showcased exceptional artistry and innovation, making a profound impact on both live and filmed entertainment.”
This year, FotoKem was awarded the Charles S. Swartz Award for its role in supporting filmmakers, studios, cinematographers, and artists across diverse film and media landscapes. Also celebrated... Read More