Disney has agreed a $52bn deal to buy film and TV assets from 21st Century Fox.
The sale includes Fox’s 39% stake in Sky, the owner of Sky News.
In the US, the widely-anticipated deal will bring together the 20th Century Fox film studio known for hits such as Avatar and Ice Age with Disney’s film assets including Pixar, Marvel and LucasFilm’s Star Wars franchise.
Also included in the deal are Fox’s US cable networks including FX and the National Geographic Channel as well as India’s Star TV.
Other assets changing hands include Fox’s 30% stake in Hulu, the US streaming service, in which Disney is also a shareholder.
The deal is likely to come under the scrutiny of regulators in the US, where Disney and Fox together account for two in every five cinema tickets sold.
In the UK, Fox has been trying to buy full control of Sky for the past year. The Disney deal paves the way for it to take over the UK-based European broadcaster.
The announcement of the deal said that prior to its completion, it was anticipated that Fox would take over of Sky – a deal which, subject to regulatory clearance, Fox expects to close by 30 June 2018.
Fox’s attempt to take over Sky is currently being investigated by the Competition and Markets Authority.
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Disney said assuming this did complete prior to its takeover of Fox closing, it would assume full ownership of Sky.