Disney Purchased 21st Century Fox Because Of Disney+
Just after last weeks Disney Investor Call Event, CEO Bob Iger spoke with CNBC about the upcoming streaming service, Disney+, where he revealed that the only reason why purchased 21st Century Fox was because of their plans for Hulu and Disney+.
During the interview he said:
“The opportunity to buy Fox first came up later that year. In fact, just a few months after the board approved us buying the majority share of BAMTech — which was done for one reason, to go into the direct-to-consumer business — Rupert and I sat down and talked about a transaction,”
And he continued to add:
“We would not have done that transaction had we not decided to go in this [streaming] direction because — if we hadn’t, we would have been looking at that business and through a traditional lens: ‘Oh, we’re buying TV channels. We’re buying more movie-making capability, etc.”
“By the time the acquisition opportunity came up, and we knew we were going in this space, we evaluated what we were buying through this new lens of: ‘Wow, what could National Geographic mean to us?’ What could it mean having access to [Fox’s] library, not to monetize it through traditional means, but to do it through [streaming]? Bam! I mean, the light bulb went off.”
There are many benefits to Disney buying Fox, the vast library, the franchises and one of the most important to Bob Iger right now is the facilities to produce more content for their networks.
During the Investors Day event, many Fox titles including The Simpsons, Avatar, Sound Of Music, Garfield, Home Alone 3 and Malcolm in the Middle, were announced to be coming to Disney+.
What Fox titles would you like to see on Disney+ ?