When you go to the theater to see a movie in the future it likely could be a Disney production.
When the Walt Disney Co.'s $71.3 billion acquisition of 21st Century Fox is completed early Wednesday, the birthplace of CinemaScope, "The Sound of Music" and "Titanic" will become a part of Disney's ever-growing Magic Kingdom. The multi-billion dollar deal also means Disney now owns the rights to the X-Men, Deadpool, the Fantastic Four, the Avatar franchise and hit TV shows like The X-Files and Empire.
The demise of 20th Century Fox as a standalone studio thins the ranks of the famed "Big Six" major studios. It also casts long shadows over a movie industry grappling with new digital competitors from Silicon Valley and facing the possibility of further contraction.
Disney's acquisition has endless repercussions but it is predicated largely on positioning Disney for the future. The company needs more content for its coming streaming platform, Disney+, and it wants control of its content across platforms.
Come Wednesday, Disney will have more influence on the movies Americans see than any company ever has. However, Along with the massive merger, industry insiders have told the Hollywood Reporter that they believe there will be massive layoffs.