The acquisition took a year to materialise and news of it comes now as Disney gears up to launch its own streaming service to rival Netflix, reportedly called Disney Plus. The deal is Disney’s biggest and most expensive deal so far, and promises to make Disney one of largest media conglomerates in the world.
Highlights:
- Disney takes ownership of Star India, Hotstar and Tata Sky.
- The ownership comes as part of the $71 billion deal with 21st Century Fox.
- The deal makes Disney Company the largest media conglomerate.
Hotstar is now owned by Disney as the company closed the $71 billion deal with 21st Century Fox. The Walt Disney Company now owns Star India and its list of sports and entertainment channels, along with Tata Sky, as part of the deal. The acquisition became effective on Wednesday morning.
Apart from Star, Disney now also owns the majority of Rupert Murdoch’s properties like 21st Century Fox’s film studios which includes Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation. Disney also owns Fox’s TV department, which includes Twentieth Century Fox Television, FX Productions and Fox21. Furthermore, Disney now owns National Geographic and Fox Networks Group International.
The acquisition took a year to materialise and news of it comes now as Disney gears up to launch its own streaming service to rival Netflix, reportedly called Disney Plus. The deal is Disney’s biggest and most expensive deal so far, and promises to make Disney one of largest media conglomerates in the world.
However, according to a report by Business Today, Star India will remain in charge of its business in India, as Star’s high stake in the company will ensure its dominance. In fact, the merged entity will be led by Star India Head Uday Shankar.
“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders. Combining Disney's and 21st Century Fox's wealth of creative content and proven talent creates the pre-eminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era,” said Chairman-CEO of Disney, Bob Iger to IANS in a statement.
We have reached out to Hotstar for a statement and will update this story as and when we hear back.
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