Finally, Disney completes $71bn 21st Century Fox deal

Good News to Movies and TV series fans but not for Netflix

Picture source: https://www.denofgeek.com/uk/movies/disney-fox/64117/disney-fox-merger-finally-complete

The Walt Disney Company has closed its $71bn (£54bn) acquisition of Rupert Murdoch’s entertainment business 21st Century Fox as it looks to take on streaming giant Netflix.

As part of the deal, Disney will absorb the Fox film and TV studios, the FX networks, National Geographic and Indian TV network Star India. It will also bring together franchises such as The Simpsons, X-Men, Star Wars and Marvel under the same roof for the first time, supercharging its content and creating a media company of unprecedented scale.

The business will launch its Disney Plus streaming service later this year, which given its souped-up content offer puts it in a better position to rival Netflix and Amazon Prime.

In a statement, Robert Iger, chairman, and CEO of The Walt Disney Company, describes the deal as an “extraordinary and historic moment”.

“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”

However, the merger is likely to result in job cuts, with experts predicting as many as 4,000 positions could be on the line.

Source: www.marketingweek.com 

More on: Disney seals $71bn deal for 21st Century Fox as it prepares to take on Netflix

What People Say This Week: Instagram Co-Founders RESIGNED

What People Say This Week?
This is what people talks about this week and I think we all have a lot to say about it too. Instagram co-founders Kevin Systrom and Mike Krieger have resigned from the Facebook-owned company.

Image source: https://mobil.sk/static/article/2018/09/5ba9f42fbeffa/thumbnail/938x452.jpg

But why?
Instagram CEO Systrom and Krieger said they want to explore their "curiosity and creativity again". In a statement by Systrom, he said that after eight years at Instagram and six years with the Facebook team, “building new things requires that we step back, understand what inspires us and match that with what the world needs; that’s what we plan to do.”

So, what say Facebook founder Mark Zuckerberg?
He had learnt a lot from working with Systrom and Krieger for the past six years and was “looking forward to seeing what they build next”.

Some Facts:

• Instagram is a popular social media site that has been growing rapidly since Facebook acquisition in 2012 for $1bn. 
• Systrom and Krieger are not the first to quit under Facebook-owned businesses this year. WhatsApp chief executive and co-founder Jan Koum, quit earlier this year. Brian Acton and Mr Koum co-founded WhatsApp in 2009, before selling it to Facebook in 2014 for $19bn. The reason being Koum had clashed with parent company Facebook over WhatsApp's strategy. He objected to Facebook attempts to use WhatsApp's personal data and weaken its encryption standards.

Choesay Conclusion
It is easy to begin a relationship but maintaining it is toughest. Innovators are filled with creativity. They see things from all different directions. It is not uncommon that disagreement and differences in views exists when creative people gets together. As such, we can see the reason for Systrom and Krieger to quit is due of growing tensions with Facebook founder Mark Zuckerberg over the direction in which the company is moving.

There is a Chinese proverb that says "一山不容二虎 (One Mountain Cannot Contain Two Tigers)". Meaning, in an area, there cannot be two very strong personality people leading. Just like in a mountain, there will only be one king, one tiger.

What say you?

Source: Instagram co-founders resign to explore ‘creativity again’