Disney is also axing the majority of the existing Fox film development slate and refocusing output, after the studio posted a $170 million operating loss in Disney’s fiscal third quarter.
In addition, the company’s streaming platform Disney Plus will get four big brands from Fox to adapt as straight-to-service content.
It’s likely not a coincidence that those properties come from deep in the Fox film vault.
In the same quarter last year, Disney estimated that Fox’s film unit generated $180 million in operating income.
Related Disney Earnings Miss the Mark, Stock Slides Disney Flushes Fox Film Development, 'Redirects' Strategy After Big Q3 Loss.
Iger also said indie label Fox Searchlight will continue on its current trajectory and also make movies for Disney Plus.
Under Disney, Fox has films dated through the end of 2020, including Steven Spielberg’s take on “West Side Story,” the Amy Adams thriller “Woman in the Window” and Brad Pitt’s astronaut drama “Ad Astra. »