Disney acquires 21st Century Fox

21st Century Fox has been acquired by The Walt Disney Company for $71 billion. Disney won the bid for the studio assets after Comcast pulled out of the bidding war, withdrawing their bid of $65 billion. Comcast has turned its sights towards British broadcaster Sky. The telecommunications conglomerate has bid $34 billion for Sky that will give it a direct line to the audience in Europe.

Fox’s share value rose by 36% in the interim. The costly addition to the Disney empire increases their content holdings to rival other big studios such as Marvel and Pixar.