Disney will effectively be taking over the 21st Century Fox studios from the upcoming Thursday on March 20, 2019, for which they paid $71.3 billion.
Disney announced on 13th March that the billion dollars deal would take effect at 12:02 AM Eastern Time on March 20.
— Sohail Jafar (@BrownScotsman) March 9, 2019
Their announcement hinted that Disney had received the final approval for taking over the company especially from the board of directors in Mexico.
The deal to take over 21st Century Fox by Disney was announced the previous year, but due to some delay, the acquisition hadn't been finalized.
The purchase was supposed to go down at $52.4 billion but a counter-offer from rival Comcast forced Disney to raise their bid to $71.3 billion.
CAPTION: Disney takes over 2st Century Fox on March 20, 2019
This deal will provide all the filming rights to Disney, giving them full control over Fox's Avatar franchise, and over their Marvel characters like Fantastic Four, X-Men and Deadpool, starring Ryan Reynolds.
However, this merging of two major companies is expected to lave 4,000 people jobless.
The other remaining entities of Fox that Disney isn't interested in, like Fox News and the Fox broadcast network are being moved under a new name Fox Corporation.