New York — On Thursday, Walt Disney agreed to buy key film and TV operations of 21st Century Fox in a $52.4bn stock deal that could reshape the media-entertainment world and step up a challenge to Netflix and emerging tech platforms. The blockbuster transaction also vastly reduces the Fox media empire built by Rupert Murdoch, leaving the tycoon and his two sons with a more tightly focused group comprised of the Fox broadcast network, Fox News Channel and its sports channels. The deal will see Disney acquire the vaunted Fox Hollywood film and TV studios, cable entertainment networks and international TV businesses, bringing popular entertainment properties, including X-Men, Avatar, The Simpsons, FX Networks and National Geographic, into Disney’s portfolio. "The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever...

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