Disney to buy Fox film, some TV businesses for $52 billion

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Disney's announcement mentions the addition of "extensive worldwide properties, including Star in India and Fox's 39 percent ownership of Sky across Europe, enhances Disney's position as a truly global entertainment company with world-class offerings in key regions".

Shareholders in 21st Century Fox will now receive 0.27 Disney shares for each share they hold, giving Murdoch and his family a holing of less than five per cent in the enlarged family.

It is still not known if Murdoch, who is now the Executive Co-Chairman at 21st Century Fox, will maintain a role inside the company or if he would take some time off to celebrate being newly Wednesday for the fourth time to supermodel wife Jerry Hall.

Fox shares have turned lower premarket after an initial goosing: FOX -3% to $31.38; FOXA -3.8% to $31.50.

The purchase excludes Fox News, Fox Business and Fox Sports, but includes all of the entertainment assets, including Fox's 30% stake in Hulu.

For Disney, which owns ABC News, taking ownership of one the country's largest movie studios from the Rupert Murdoch-controlled company is one of the biggest media deals in history.

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21st Century Fox will also spin off Fox Broadcasting network and stations, Fox News, Fox Business, and other assets to its shareholders.

The deal would be subject to regulatory approval and is likely to take about one year to close.

Disney will acquire Twenty-First Century Fox after parts of the company split off, Good Morning America reported Thursday.

Disney CEO Robert Iger and Executive Chairman of 21st Century Fox Rupert Murdoch.

Iger said new technology would be necessary to meet the demands of viewers who want to access content anytime. Today, it added to its already astonishing portfolio in a colossal deal with Ruper Murdoch's 21st Century Fox.

This could see popular Indian streaming service Hotstar continuing alongside Disney's yet to be launched streaming platform as Hotstar is run by Star India. Hulu is also partially owned by Comcast Corp and Time Warner Inc.