In 1998, an episode of The Simpsons predicted that The Walt Disney Company would buy Rupert Murdoch’s 21st Century Fox. That prediction is now a US$52.4bn reality. The deal, Disney’s largest, includes the 20th Century Fox movie and TV studios, most of its cable channels (like National Geographic) and its international assets. Plainly put, the deal means two things: Rupert Murdoch has cashed out, and Fox’s assets give impetus to Disney’s own streaming ambitions. Allow me to explain: the all-stock deal results in the Murdoch family trading control of 21st Century Fox for a 4.25% stake in Disney. After mutual fund Vanguard, they become the largest House of Mouse shareholder. Rupert Murdoch (86) will be left unencumbered to focus on what he’s always has a soft spot for: the news industry. The Fox network and Fox News are not included in the deal. There is some speculation that the Murdochs might reunite Fox with News Corp, which holds the family’s publishing assets, including The Wall S...
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