Disney-Fox Deal About To Close; What It Means For Murdoch

The Fox-Disney deal is expected to close early Wednesday, and "anxiety is running high on the Fox lot and beyond," as the move "could eventually result in the loss of anywhere from 4,000 to 10,000 jobs, depending on whom you ask" (VANITYFAIR.com, 3/15).

With the close of the deal, Fox Exec Chair Rupert Murdoch will be "dismantling his life's work: a kingdom" worth more than $100B. 21st Century Fox "will be broken apart," and Disney will absorb Fox' movie and TV production studios. The Murdoch family "will create a new entity, simply known as Fox, that will include Fox News Channel, the Fox broadcast network, national Fox Sports channels, TV stations and the 50-acre Fox studio lot in Century City." Chernin Group Chair & CEO Peter Chernin, a former News Corp. exec, said Murdoch has been the "most influential person in Hollywood in the last 25 years," and the "key driver of trends that now define the industry" (L.A. TIMES, 3/17).