The Walt Disney Company and 21st Century Fox's major merger is coming together faster than anticipated and will now officially be completed on January 1, 2019. Fox has plenty of success over the years through a variety of media outlets, but determined they could not properly compete in the movie and TV space. They looked to sell these branches of the company and quickly found Disney to be their preferred buyer. Comcast attempted to pull the deal out from under Disney's reaches, but simply made them pay them pay $71 billion for Fox's assets instead of the initial $54 billion bid.
There has been plenty of resistance to the deal because of the monopoly Disney continues to grow and the job losses that will come from it. From Disney's perspective, they view the Fox acquisition as a great way to enhance their library of content prior to launching their own streaming service late next year. Throughout the process, it was anticipated that summer 2019 would be when the deal would close, but it'll actually be much sooner.
Variety shared the news that 21st Century Fox president Peter Rice told Fox employees the merger will be ready to be completed on January 1, 2019. This effectively means that 2018 will be the final year for this current look of Fox and moves up the timeline for the merger as a result.
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Source: Variety
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