Disney’s acquisition of 21st Century Fox solidifies their position as the largest traditional media company in the world, but is this good for consumers?
The world’s largest media conglomerate just got bigger. Late Tuesday night, Disney’s acquisition of 21st Century Fox was completed. The $71.3 billion dollar deal is one of the largest media mergers ever, and comes with a huge haul of properties such as movies, a movie studio, TV shows, TV networks and even a controlling stake in the TV streaming service Hulu. This is in addition to brands that Disney already owns such as Pixar, Marvel, and Star Wars, just to name a few.
Disney’s own video streaming service, Disney+, is supposed to launch some time this year, meaning this acquisition primes them to have an immediate impact in the video streaming service landscape. Some argue this acquisition is a positive thing, as we will be getting better quality content and competition among the streaming services. That, and franchises such as the Fantastic Four and X-Men can once again be rebooted or become part of the Marvel Cinematic Universe. Take a look a some of the positive reactions around the Twittersphere: