By buying the Fox studios behind 'The Simpsons' and X-Men, Disney aims to better compete with tech companies such as Amazon and Netflix for viewers' attention — and dollars.
Cars enter and leave Fox Studios, Tuesday, March 19, 2019, in Los Angeles. Disney has closed its $71 acquisition of Fox’s entertainment business on Wednesday, March 20, in a move set to shake up the media landscape. The closure paves the way for Disney to launch its streaming service, Disney Plus, due out later this year.
By buying the studios behind “The Simpsons” and X-Men, Disney aims to better compete with technology companies such as Amazon and Netflix for viewers’ attention - and dollars. Disney CEO Bob Iger said in an earnings call in February that Disney Plus and other direct-to-consumer businesses are Disney’s “No. 1 priority.”
In addition to boosting the Disney streaming service, expected to debut next year, the deal paves the way for Marvel’s X-Men and the Avengers to reunite in future movies. Though Disney owns Marvel Studios, some characters including the X-Men had already been licensed to Fox.
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