Disney on Thursday announced a deal to acquire many parts of Twenty-First Century Fox for $52.4 billion in stock. The company will get Fox's movie studios, networks Nat Geo and FX, Asian pay-TV operator Star TV, and stakes in Sky, Endemol Shine Group and Hulu, as well as regional sports networks.
The acquisition values the combined Fox business at $29.54 per share, based on Disney's closing share price Wednesday. The deal has a total value of approximately $66.1 billion, with Disney assuming $13.7 billion of Fox's net debt.
Shares of Fox were up fractionally in early trading; Disney traded 1.2 percent higher.