Disney has completed a historic $71.3 billion takeover of 21st Century Fox, creating an entertainment behemoth of unprecedented scale.
The Walt Disney Company closed its acquisition of Rupert Murdoch's entertainment business just after midnight New York time on Wednesday.
The mega-deal sees Disney absorbing the Fox film and TV studios, the FX networks, National Geographic and Indian TV giant Star India. Some of Fox's other properties, including its news and sports businesses, have been spun off into the newly formed Fox Corporation.
It plans to launch its new streaming service Disney Plus later this year in a bid to challenge Netflix for future audience share.
Before the takeover, Disney already boasted a huge catalogue of content including its classic cartoons, Star Wars and many of the Marvel characters. After purchasing Fox, it will be able to add the likes of X-Men and Deadpool to its portfolio.
In a statement, Robert Iger, chairman and chief executive officer of The Walt Disney Company, said: "This is an extraordinary and historic moment for us - one that will create significant long-term value for our company and our shareholders.
"Combining Disney's and 21st Century Fox's wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era."
Rupert Murdoch, the billionaire former owner of executive co-chairman of 21st Century Fox, wrote a letter to employees two days before the takeover was finalised, thanking them for their work.
