- On Thursday, Disney said it’s buying 21st Century Fox’s entertainment assets for $52.4 billion.
- The move is widely seen as the company gearing up to go to war with Netflix.
- Netflix investors seem unphased by the acquisition, sending shares of the company higher after the deal was announced.
- Watch Netflix’s stock price move in real time here.
Netflix investors seemed to shrug off the implications of the Disney-Fox deal, with shares of the company trading up 2.37% at $192.38 after it was announced.
As various interested buyers circled 21st Century Fox, Disney stood out because of its video streaming service, which is set to launch in 2019. Disney previously said it would pull its content from Netflix to start its own streaming service. Adding 21st Century Fox’s assets to its content lineup could make it a real competitor to Netflix.
Disney is buying many of Fox’s entertainment assets, including its movie studio, which brings in a lot of new intellectual property to the company. The rest of the industry is like to follow suit, through mergers and acquisitions, in order to offer their widest range of content possible.
Netflix shares are up 50.88% this year.
- Markets Insider