Disney buying large part of 21st Century Fox in $52.4B deal

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The Fox Studios in West Los Angeles, California, on December 13, 2017. Walt Disney Co. and 21st Century Fox shares were in the spotlight on December 13, 2017, amid reports the two media-entertainment powerhouses were readying a major deal. The Wall Street Journal reported the deal -- in which Disney would acquire the famed Fox Hollywood studios and key television operations of the Murdoch family-controlled group -- could be announced as early as Thursday. / AFP PHOTO / Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

BURBANK, Calif. (AP) — Disney is buying a large part of the Murdoch family’s 21st Century Fox in a $52.4 billion deal, including film and television studios, cable and international TV businesses as it tries to meet competition from technology companies in the entertainment business.

Before the buyout, 21st Century Fox will separate the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off to its shareholders.

The entertainment business is going through big changes. Tech companies are building video divisions. Advertisers are following consumer attention to the internet. And Disney is launching new streaming services, which could be helped with the addition of the Fox assets.

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