Disney to Buy National Geographic in $52 Billion Deal for Fox
PetaPixel
National Geographic photographers will likely soon find themselves under the same parent company as Disneyland photographers. Disney is set to take ownership of the famous yellow-bordered magazine as part of its $52 billion purchase of 21st Century Fox.
The acquisition was announced by Disney yesterday and include 21st Century Fox’s movie and TV businesses as well as a large number of assets. One of these assets is Fox’s stake in National Geographic Partners.
Back in September 2015, 21st Century Fox inked a deal with the National Geographic Society that gave Fox a 73% controlling interest in the magazine in exchange for $725 million, an agreement that turned National Geographic into a for-profit company.
Two months later, National Geographic laid off 9% (about 180) of its 2,000 employees as it prepared for its new life as a Fox company. It was the largest headcount reduction in the 127-year history of the National Geographic Society.
National Geographic Society continues to own the remaining 27% of the partnership, called National Geographic Partners. As part of its new deal with Disney, Fox is including its 73% stake in National Geographic Partners.
National Geographic magazine currently has 40 local-language editions, ~3.5 subscribers in the US, ~6.5 million subscribers total, and a total reach of over 30 million adults around the world.
If the $52 billion deal gets US regulator approval — it will be closely scrutinized for anti-trust issues — National Geographic will be joining Disney’s ever-growing stable of well-known brands — assets that include Pixar, Lucasfilm, Marvel, and ABC.
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