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MARKETS LIVE BLOG:

STOCKS TRADE HIGHER; DISNEY SINKS AFTER EARNINGS

Disney's surprise streaming entertainment profit offset by weaker TV business

Disney to buy Fox film, TV businesses for $52.4 billion in stock

Reuters
Disney

Dec 14 (Reuters) - Walt Disney Co on Thursday agreed to buy film, television and international businesses from Rupert Murdoch's Twenty-First Century Fox Inc for $52.4 billion in stock.

Fox assets that will be sold to Disney, include the Twentieth Century Fox movie and cable networks.

Disney will also assume about $13.7 billion of net debt of 21st Century Fox.

Disney Chief Executive Bob Iger, 66, will extend his tenure through the end of 2021 to oversee the integration of the Fox businesses. He has already postponed his retirement from Disney three times. In March, he said he was committed to leaving the company in July 2019. (Reporting by Aishwarya Venugopal in Bengaluru)