Fox Will Be Ready to Close Deal with Disney at the Start of the New Year
Regulatory hurdles are no match for the Mouse House. Disney’s acquisition of 21st Century Fox is going full steam ahead. Fox president Peter Rice has revealed that while the deal is currently slated for the first half of 2019 due to some regulatory processes, New Fox, the new company that will own Fox News, Fox Broadcasting, and Fox Sports after the deal is complete, “will be ready to go by Jan. 1.” That means that Fox will be ready to start the new year off with the signing of the deal. That’s sooner than most were expecting.
After the acquisition, Rice will be joining Disney as a “top TV exec” with John Nallen, CFO of Fox, taking over as COO of New Fox. Rice has also confirmed that there will be layoffs and there may be some culture clash, but he’s optimistic since this is not Disney’s first acquisition.