×
You will be redirected back to your article in seconds

Fox Family costs Mouse less cheese in final deal

With $100 mil discount, ABC Family channel a go

HOLLYWOOD — Disney closed on its acquisition of the Fox Family basic-cable web and related international assets Wednesday for $2.9 billion cash plus $2.3 billion in debt assumption.

The terms rep, as expected, a $100 million reduction from the cash component penciled into a July definitive agreement (Daily Variety, Oct. 24). Disney sought a review of the original deal terms after the Sept. 11 terrorist attacks accelerated an ad slowdown at U.S. broadcast and cable webs.

“We are pleased to have completed this strategic acquisition,” Disney chairman-CEO Michael Eisner said.

The Mouse House plans to rebrand Fox Family as ABC Family and partly program the channel with shows from its ABC broadcast web. Conglom also plans eventually to rebrand Fox Kids international TV operations that come along in the transaction.

Prior to the transaction, Rupert Murdoch’s News Corp. and Haim Saban’s Saban Entertainment each had 49.5% stakes in Fox Family Worldwide, parent company both to Fox Family and the international assets. Investment bank Allen & Co. held a 1% interest.

More TV

  • Chuy Bravo seen at Focus Features

    Chuy Bravo, 'Chelsea Lately' Sidekick, Dies at 63

    Chuy Bravo, Chelsea Handler’s sidekick on her E! talk show “Chelsea Lately,” has died in Mexico City. He was 63. According to reports, the Mexican American actor died suddenly after being hospitalized with stomach pains while visiting family in Mexico. Handler posted a tribute to Bravo on Instagram shortly after reports of his death began [...]

  • SATURDAY NIGHT LIVE -- "Scarlett Johansson"

    'Saturday Night Live' Parodies 'A Marriage Story' with Kellyanne Conway (Watch)

    Scarlett Johansson may be nominated for a Golden Globe for her performance in “A Marriage Story,” but when she hosted the Dec. 14 episode of “Saturday Night Live,” she slid into a less flashy role for that sketch comedy’s parody of the new dramatic film. Johansson took on the role of therapist to Kate McKinnon’s [...]

  • SATURDAY NIGHT LIVE -- "Scarlett Johansson"

    'Saturday Night Live': Kate McKinnon's Greta Thunberg Tells Trump to 'Grow Up' (Watch)

    With the December holidays upon us, “Saturday Night Live” took a brief detour from its usual parodies of political press conferences and the impeachment hearings to instead begin its Dec. 14 episode with a sketch about average families discussing the state of the world over dinner — with a special message from Greta Thunberg (as [...]

  • Christmas Town Hallmark

    Hallmark Faces Holiday Controversy After Rejecting Ad With Same-Sex Couple

    Hallmark Channel delivered a sentiment very different from the ones found in its parent company’s greeting cards when its executives questioned an ad showing two women getting married — and barred the commercial from running on its schedule. Zola, a company that offers online wedding registries and wedding planning services, had been running commercials in [...]

More From Our Brands

Access exclusive content