Walt Disney says it will buy 21st Century Fox’s entertainment assets for a total $52.4bn after spinoff of certain businesses.
The deal includes Fox’s 39% stake in satellite broadcaster Sky, and the 20th Century Fox film studio, Disney announced.
Fox’s remaining assets, including Fox News and Sports, will form a new company.
The deal ends more than half a century of media expansion by Fox owner Rupert Murdoch, who is 86 years old.
Disney will buy the Fox assets for $52.4bn in stock, plus about $13.7bn net debt, leaving the value of the deal at about $66.1bn.
Disney also will buy Fox’s stake in the Hulu video streaming service, giving it majority control of a competitor to Netflix. Hulu is also partially owned by Comcast and Time Warner.