The daily business briefing: March 20, 2019

Disney finalizes its $71.3 billion 21st Century Fox purchase, the FAA faces scrutiny over its approval of Boeing jets, and more

The Disney logo is displayed outside the Disney Store in Times Square, December 14, 2017 in New York City.
(Image credit: Drew Angerer/Getty Images)

1. Disney completes $71.3 billion 21st Century Fox deal

The Walt Disney Company formally closed its $71.3 billion purchase of 21st Century Fox assets early Wednesday, dramatically expanding what was already an entertainment giant. Disney now owns the core of Rupert Murdoch's former empire, including the 20th Century Fox movie and television studio, home of the X-Men, Avatar, and Simpsons franchises; Ice Age animation studio Blue Sky; Fox Searchlight Pictures; the FX and National Geographic channels; and Fox's interest in Hulu. "This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders," Disney CEO Bob Iger said in a statement. Disney bought Pixar in 2006 for $7.4 billion, Marvel Entertainment in 2010 for $4 billion, and Lucasfilm in 2012 for $4 billion.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.