Paul Ryan Joins Fox Corp.'s Board of Directors

Share

Disney has taken over most of 21st Century Fox's assets in a $US71 billion ($A100 billion) merger, which got the green light from shareholders in June 2018 and was finalised this week. Fox, now mainly comprising news and sports-reporting divisions, is $71.3 billion richer for it, although initial projections of the total hovered around $66 billion.

After months of bidding wars, legal drama and fan anticipation, the Disney acquisition of 21 Century Fox is now official.

The new Fox will be led by Murdoch's elder son, Lachlan, and will focus largely on sports and news - two forms of programming that have held up well in the ratings despite fewer people watching television. It will begin trading on NASDAQ under the FOXA and FOX symbols.

Along with Ryan, Fox named Chase Carey, the chairman and CEO of Formula 1, Anne Dias, the founder of investment fund Aragon Global Holdings, and Roland Hernandez, the CEO of Hernandez Media Ventures, to the board of directors.

More news: Real Madrid Move For Eden Hazard Would Cost Between £85m, £100m
More news: Supreme Court to hear resentencing case for deadly DC sniper shootings
More news: Fuller House Drops Lori Loughlin Following Her Involvement in College Bribery Scandal

With the acquisition, Disney now has a huge amount of content and intellectual property, including "X-Men", "Avatar", and "Deadpool".

The X-Men and Fantastic Four will officially be back at Marvel and a part of Disney as of midnight tonight, Fox Studios confirms in a press release. It assumed ownership of TV networks and the 20th Century Fox movie studio business. He's a noted friend of Rupert Murdoch, who owns the Fox Corporation. Assets changing hands in the deal include: Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation; Fox's television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox's interests in Hulu, Tata Sky and Endemol Shine Group.

Ryan, R-Wis., who retired from Congress past year citing his desire to spend more time with his family, was named to the board Tuesday.

Share