Disney Acquires Fox,Probably Finishing the Shocking Deal in Advance

According to foreign media, the time when Disney completes the acquisition of Fox assets may be earlier than expected. Chairman of 21st Century Fox – Peter Rice has recently hosted a staff meeting to explain the merger of the two companies, confirming that there will be many employees worried about layoffs, and the transaction process is faster than expected, the new company “New Fox” ( “New Fox” is used to differenciate it from the old “Fox” while its name is still Fox) will start business on January 1, 2019. The transaction will be officially completed in the first half of 2019.

20th Century Fox Films of 21st Century Fox

The trade fair will bring layoffs. This is a problem that many employees are worried about. The foreign media show that the number of unemployed may reach 5,000, including the film and television departments. Some experts even predict that the number of people being laid off may be as high as 10,000. Although the staff meeting was held to motivate the “New Fox” and the former Fox employees who will go to Disney, Peter Rice said that layoffs are inevitable. For the former Focus, the layoffs are more than Fox will transfer to those Disney. The part of the asset, “New Fox” will be relatively small. The original Fox has 22,000 employees, including those who will become part of the new Focus, so the part that goes to Disney is expected to face a large percentage of layoffs. However, the data was not confirmed by Rice at the Fox staff meeting, he only confirmed that there will be layoffs.

Rice also explained: In fact, Disney bought the entire 21st Century Fox and then stripped out the new Fox. So the employees of all the services shared by Disney and Fox will automatically transfer to Disney after the transaction, but the new Fox will have the priority to sign the original Fox employees, the employees who are not required by the new Fox will transfer to Disney, if Disney can not give The work they do will be cut.


Disney Pictures

Foreign media show reveals that Disney’s basic salary is lower than Fox’s, so if the original Fox employees feel that after the transaction, if you go to Disney, there is no advantage in salary and work position, you can choose to be cut. Rice himself will turn to Disney as the head of the TV department.

Asked about the cultural collision between Disney and Fox, Rice said that Disney had successfully acquired a number of organizations, such as Marvel, Pixar, and Lucas. He said that these institutions still retain their unique culture after being acquired. And the core of Disney is creativity and sincerity in the creation, which means that Disney is the only media tycoon founded by the artist (Walt Disney) rather than telecommunications or limited company.



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