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We have heard rumblings of talks between Disney and 21st Century Fox happening recently.
Discussion about the potential acquisition of some 21st Century Fox assets by Disney had gone quiet. The assets in question include the film studio as well as areas of their television division. As I said, talks had somewhat cooled off but things have started to heat up again.
Talks Between Disney And 21st Century Fox Have Resumed
A report by CNBC asserts that talks between the two studios have begun again. More importantly, a deal between Disney and 21st Century Fox is actually nearing completion. The deal could be done by next week and the assets that could be sold to Disney are valued at a staggering $60 billion.
Clearly, if this happens, it will be a momentous event in film history that will have a severe impact on the film industry. By far, it surpasses the deal Disney made with George Lucas to buy Lucasfilm for $4 billion. Disney would acquire 21st Century Fox’s entire film and television production assets while Fox would keep its news (sure, “news”), sports and broadcast network.
The Impact Of This Deal
Obviously, the specifics of this deal are still unclear to us and likely still undecided between Disney and 21st Century Fox. With this in mind, I feel as though I and my fellow film fans should not be too judgemental about how this deal could negatively or positively affect the film industry. Still, I think it is safe to say that if the deal goes ahead, some restructuring within the Fox assets that Disney acquires will occur.
People could likely lose their jobs in the process which is a shame. But, I am confident that those who suffer this fate will land on their feet. Whether it is with different film studios, production companies or setting up their own independent companies with others, they will still be able make their own mark on the film industry.
I have seen people make arguments that Disney owning another major film studio is not good for the film industry. Still, again, we need to see how Disney approaches the running of 21st Century Fox’s film assets. Disney owns Lucasfilm and Pixar but a lot of people do not know this. Why? Because Disney gives these studios a lot of freedom to get on with their own thing without any major interference or micro-management.
It looks that way from the outside anyway. Indeed, the fact that the Disney logo and fanfare is not included before the beginning of Star Wars: The Force Awakens and Rogue One: A Star Wars Story is evidence of the public detachment that exists between Lucasfilm and Disney. Privately, it could be much different but I do not feel as though it is.
Why I Want This Deal To Happen
Make no mistake, I want this deal to go through for one major reason. If Disney owns 21st Century Fox’s film assets, then it is very likely that Disney/Lucasfilm will regain the rights to the theatrical versions of the Original Star Wars Trilogy. If this happens, then there is a greater chance that Lucasfilm will release the theatrical editions of the Original Trilogy. Effectively, this would be an official release of the Despecialized Edition of the Original Trilogy. This would mean a lot to me because I detest the Special Editions.
Make no mistake, the changes made to the Original Trilogy in the Special Editions are awful. They worsen films which, in their original form, are fantastic and combine together to make, in my opinion, the greatest film trilogy ever made. A release of the ORIGINAL Original Trilogy would end the challenging quest fans need to go through, both legal and not so legal, to own the version of that trilogy before it was ruined by George Lucas’ needless meddling. For that reason alone, I hope this deal between Disney and 21st Century Fox goes through.
Consequences For The Marvel Cinematic Universe
For many, a lot of discussion about this deal is centred on how it will affect the Marvel Cinematic Universe (MCU). 21st Century Fox own the rights to Marvel properties such as the X-Men and the Fantastic Four. If Disney, who owns Marvel Studios, acquires the rights to these superhero properties then it is likely that they could become part of the MCU. Perhaps this could happen in Phase 4 of the MCU which will occur after Avengers 4 provides the “finale” Kevin Feige promised us.
Hence, if this deal goes through, the MCU will have much more material to use for their franchise and we could see the Fantastic Four finally done right. Still, there is concern about whether films such as Logan and Deadpool would have been made under Disney and whether R-rated films would continue to be made.
However, people forget that Miramax was owned by Disney between 1993 and 2010. Films such as Pulp Fiction and Trainspotting were distributed by Miramax in this time period. Those films are not exactly family friendly. So, the concerns about Disney making Deadpool films that are family friendly need to be tempered a little bit. Obviously, this deal may not happen. But, if it does, then I do feel that we need to keep an open mind when it comes to the consequences it could have, both good and bad.
Thank you for reading this article. You can find my other articles here on Soapbox as well as my reviews which you can also find at my blog theturnertalks.com.