CURRENT AFFAIRS

Detailed explanation-1: -The Walt Disney Co. has closed its $71.3 billion acquisition of large parts of 21st Century Fox, expanding its global reach and content portfolio ahead of the planned launch of its own video streaming service Disney+.

Detailed explanation-2: -Among other key assets, the acquisition included the 20th Century Fox film and television studios, U.S. cable/satellite channels such as FX, Fox Networks Group, a 73% stake in National Geographic Partners, Indian television broadcaster Star India, and a 30% stake in Hulu. Immediately preceding the acquisition.

Detailed explanation-3: -Last year Disney completed a $71.3bn (£54.7bn) deal to buy the bulk of Rupert Murdoch’s Fox media assets. Disney has also renamed its other television studios, including changing ABC Studios and ABC Signature Studios to ABC Signature while Fox 21 Television Studios will become Touchstone Television.

Detailed explanation-4: -The deal between Disney and 21st Century Fox marks a historic union of Hollywood heavyweights and a bid by Disney to bolster its core TV and film businesses against an onslaught of new competitors in the content arena.