Walt Disney makes $52bn deal for 21st Century Fox assets

NEW YORK: Walt Disney has decided to buy the assets of 21st Century Fox's business for $52.4bn (£39bn). According to the media reports the deal has been confirmed.

According to reports, 21st Century Fox's entertainment assets are to be sold to Walt Disney for $52bn (£39bn). It includes Fox's film and television studios, as well as its 39% stake in satellite broadcaster Sky.

In a statement, Disney said the acquisition would allow it to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience.

While, Fox will form a news-focused company with its remaining assets, said the reports.

The move is a sharp shift for 86-year-old Fox owner Rupert Murdoch after more than half a century of media expansion.

Expressing his stance, Murdoch said the break-up makes sense amid new threats from online advertising and competitors who are streaming entertainment into homes via the internet.

Disney will scoop up Fox's movie and television studios, regional sports network and international holdings, among other investments.

The move adds to Disney's back catalogue high-grossing films such as the original Star Wars movies, the Marvel superhero pictures, Avatar and Deadpool, as well as TV hits such as Modern Family and The Simpsons.