>> The ink is dry on Disney's bid to buy rival Fox's television and film studios along with international assets. All together the swap between this two media titans has gone for $52.4 billion in stock and has only lengthened Disney's already long reach across the globe. Reuters media correspondent, Jessica Toonkel.
>> You have Disney which is the world's largest entertainment company all of a sudden now having international breath through the acquisition of these Fox assets. So a lot of people are focusing on what's going on in the US but internationally they're also buying at least there's 39% stake in Sky.
So that gives them distribution in Europe, it gives them over the top online streaming and also Star India. India is the fastest growing market for media today and Star is the fastest TV network by far. And they have an online streaming service called Hotstar. Netflix is starting to get into India, I believe Amazon is starting to get into India.
This gives Disney a huge edge over these competitors right now.>> Disney is trying to combat the likes of Netflix and Amazon as more viewers shun traditional television and film outlets to watch content online on demand. Netflix is expected to spend $8 billion on content next year, edging slowly closer to Disney which spent 13.5 billion last year.
On the flip side, Fox boss, Rupert Murdoch appears to be betting that his new leaner company will survive on the likes of Breaking News and live sports broadcasts. Two forms of media that are viewed in real time. Though he won't be saving all sports assets, spinning off 22 regional networks with rights to baseball, basketball, hockey and college games.
Murdoch told investors on Thursday that this isn't a retreat. Shares in Fox have skyrocketed since whispers of the deal first broke in November. Disney's buyout is likely to start antitrust increase in multiple countries.