Business

Walt Disney Co absorbs Rupert Murdoch”s 21st Century Fox

Walt Disney Co agreed on Thursday to buy Rupert Murdoch‘s 21st Century Fox Inc for $ 52.4 billion.

The assets to be sold to Disney include the 21st Century Fox cinematic and cable networks.

Disney will also take over $ 13.7 billion of 21st Century Fox net debt.

Walt Disney Co CEO Bob Iger will extend his term of office by the end of 2021 to oversee the 21st Century Fox.

Iger has already postponed his retirement from Disney three times. In March, he was committed to leave the company in July 2019.