Home NEWS After acquisition of Fox, Disney must lay off about 4 thousand people

After acquisition of Fox, Disney must lay off about 4 thousand people

64
0
After acquisition of Fox, Disney must lay off about 4 thousand people

If, on the one hand, Fox’s acquisition of Disney’s film properties in a $ 71.3 billion negotiation has left many seventh-grade fans happy, about 4,000 people may not be so happy: this is the number estimated layoffs and cuts that analysts say the company should promote as soon as the dust falls.

According to the Hollywood Reporter, where the estimate was published, BTIG analyst Rich Greenfield goes even further in the predictions, risking a number between 5,000 and 10,000 cuts. The layoffs have already begun: Chris Aronson, the president of Fox Film’s domestic distribution division, received a notification via email that he would be discharged from his post within 60 days. Andrew Cripps, who is responsible for the international distribution of studio productions, received similar notification.

The site indicates that some people, however, will be retained after the transition period, which should last between three and six months.

Disney has already hinted that it will continue the continuity of some projects: The Art of Running in the Rain and The Woman in the Window, movies starring respectively Kevin Costner and Amy Adams, will not be canceled even though the label “Fox 2000, responsible for their productions, has already been discontinued.

Fox’s TV properties will also migrate to Disney, including, according to the Hollywood Reporter, cable channels FX and National Geographic, Indian media conglomerate Star India and 30% of the Hulu streaming service.

Disney had been negotiating with Fox an acquisition agreement since December 2017. Finally, on the last day 19, the companies signed the transaction, within the amount quoted above. With the deal, Disney now controls Fox’s film and TV divisions. That means that rights to X-Men, Deadpool , Fantastic Four, Avatar , as well as the Fox Searchlight distributor (responsible for The Shape of Water and A Favorita ) will now be Disney.

It is known that X-Men: Black Phoenix will be the last one of the series to be released in the cinemas by the Fox. Rumors indicate that the film New Mutants, that arrives in August, will be released only in Disney +, the service of streaming of Disney.

LEAVE A REPLY

Please enter your comment!
Please enter your name here