Walt Disney (DIS - Get Report) set March 20 as the date for its $71.3 billion acquisition of Twenty-First Century Fox (FOXA) assets to become official. The deal will be completed at 12:02 a.m. ET on that day.
The two companies also said they expect Fox to distribute on Tuesday, March 19, "all issued and outstanding shares of Fox Corp common stock to 21st Century Fox stockholders."
Disney agreed to acquire the majority of Fox's assets, including the media company's regional sports networks, its 30% stake in Hulu, and the company's film and television studios. Fox will continue to operate its news division and national sports network FS1.
Disney has been on an acquisition spree over the past decade, reaping immense success from its acquisitions. The company purchased Marvel Studios for $4.3 billion in 2009 and followed that up with the $4.05 billion purchase of Lucasfilm and the "Star Wars" franchise in 2012.
Those two film franchises have consistently landed Disney at the top box office spot year after year. In 2018, the company's movie studio brought in $9.9 billion, a 19% jump from the previous year, thanks to strong showings from the two enterprises.
Disney Studios owns five of the top 10 highest domestic grossing films of all time, with all of the films making the list coming from its Marvel and Lucasfilm acquisitions. Fox Studios, which is now part of Disney, owns the second-highest domestic grossing film of all time, "Avatar. "
Disney is a holding in the Action Alerts PLUS charitable trust.
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