President of 21st Century Fox, Peter Rice, held a town hall meeting with Fox employees to provide an update on Disney's $66 billion acquisition of the 20th Century Fox movie studio, 20th Century Fox Television TV studio and FX Networks. According to Rice, the deal would be finalized by the end of next summer at the latest.
The company's remaining assets will be limited to Fox Broadcasting Company, national sports cable networks FS1 and FS2, Fox News Channel and the Fox stations, all of which will form a new company. Rupert Murdoch previously referred to this slimmed-down post-merger group as "New Fox" while Rice described it as "Diet Fox," but that it's official name will simply be called "Fox." Management changes of the new company are to be announced over the next year as the post-acquisition company needs to be fully operational when the Disney deal finally goes through.
Throughout the next seven years, Disney plans to lease offices on the 20th Century Fox lot in West Los Angeles where the post-deal operations are to be concentrated. Some employees will move over to the House of Mouse in what is hoped to be a seamless transition while others stay behind at Fox to focus on news and sports.
Thanks to the business agreement, Disney will be getting dozens of franchises that literally range from A to Z: Alien to We Bought A Zoo. You don't have to worry, though, because the Fox-owned shows like The Simpsons and X-Files aren't going anywhere. Most excitingly, however, Marvel (owned by Disney) will finally have the film rights back to some of its most beloved characters like the X-Men, Deadpool, Cable, Fantastic Four, and more, meaning that these heroes can finally be included in the MCU at some point down the road.