Disney announced earlier this week that it will be acquiring a major portion of 21st Century Fox’s assets, including independent films, their production company, the FX and National Geographic channels, regional sport networks, and a majority stake in Hulu. This would be the largest-ever merger of two show business companies, and Disney, who is already one of the biggest players in the entertainment industry in the U.S., would be a global colossus. The deal will most likely receive regulatory scrutiny, because the Justice Department has been wary of mega media mergers. But shouldn’t we all be wary? The deal essentially lets Rupert Murdoch consolidate his kingdom back into a news business, and gives Disney a chance to overtake Netflix. Streaming video has beat out pay TV. Young adults in their late teens and early 20s watch 50 percent less traditional television than people did in 2010. But should a merger like this exist in the first place? If it goes through, Disney would control as much as 40 percent of the U.S. movie business and 40 percent of the U.S. TV business. That should sound a little scary, The Atlantic writes.
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