Share. Massive layoffs planned as the dust from the Disney-Fox merger settles... Massive layoffs planned as the dust from the Disney-Fox merger settles...
Disney's $71.3 billion acquisition of News Corp.’s 21st Century Fox film assets will make it the most powerful movie studio ever, but it's also causing a lot of people to lose their jobs.
Per The Hollywood Reporter, "analysts say that by the time the dust settles, 4,000 of the jobs the conglomerate provides could be lost. Disney-skeptic analyst Rich Greenfield of BTIG even put the number at 5,000 to 10,000 over a longer time frame."
Fox's film president of domestic distribution, Chris Aronson, along with Andrew Cripps, who handles international distribution for the studio, were both notified that they will be let go after 60 days. THR goes on to say that some Fox employees will stay on during the transition, which could last anywhere from three to six months.
All the Marvel Characters Disney Will Get From Fox 10+ IMAGES Fullscreen Image Artboard 3 Copy Artboard 3 ESC 01 OF 21 From Wolverine to Deadpool to Doctor Doom, here are the iconic Marvel characters you can expect to see make their MCU debut thanks to the Fox/Disney deal... 01 OF 21 From Wolverine to Deadpool to Doctor Doom, here are the iconic Marvel characters you can expect to see make their MCU debut thanks to the Fox/Disney deal... All the Marvel Characters Disney Will Get From Fox Download Image Captions ESC
Fox 2000, the home for Oscar-nominated films like The Devil Wears Prada and Hidden Figures, is another casualty of the merger. THR reports that even with the label's closing, Disney does intend to complete its upcoming roster of films: The Art of Racing in the Rain, starring Kevin Costner, and The Woman in the Window, starring Amy Adams and Gary Oldman.
Disney's procurement also includes Fox's TV division, "FX and National Geographic cable channels, Star India, and 30 percent of Hulu," according to THR. Disney's chairman and CEO, Bob Iger, said the merger will "create significant long-term value for our company and our shareholders."
Disney will be acquiring a number of movie and TV show properties from Fox as part of the merger. The deal is also expected to have repercussions for the X-Men franchise; here's our breakdown of the X-Men projects that are on hold due to the deal, and what Disney taking over Fox could mean for the TV landscape.
David Griffin still watches DuckTales in his pajamas with a cereal bowl in hand. He's also the TV Editor for IGN. Say hi on Twitter.
eatdeadjesus on March 22nd, 2019 at 00:47 UTC »
Tremble before Disney, devourer of worlds
jlitwinka on March 21st, 2019 at 23:49 UTC »
This happens during big corporate mergers. There are redundant departments and jobs and the buying company cuts the fat. It sucks for those people who are laid off though, and 4000 is a lot of people out of work in one go.
uscmacleod on March 21st, 2019 at 23:18 UTC »
Avengers: Severance Package
Edit: thanks for gold!