21st Century Fox today announced that it has elevated Fox Networks Group Chairman and CEO Peter. Peter Rice Named President of 21st Century Fox.

1:42 The deal covers the 21st Century Fox film and television studios, as well as a cable group that comprises FX Networks, National Geographic, 300-plus international channels and 22 regional sports networks. The agreement also includes broadcasting giant Sky in the UK and Europe. In addition, it doubles Disney's stake in video-streaming service Hulu to 60 percent, putting a question mark over the future of one of the main streaming video services in the US. The total deal is worth $66.1 billion, but that includes $13.7 billion of Fox's debt. The combination will solidify Disney's position as the world's biggest traditional-media company, bringing Fox's popular, and franchises to a company that is already home to, and 's stable of animated films.

The combined company will also own the and characters. 'This acquisition reflects a changing media landscape increasingly defined by transformative technology and evolving consumer expectations,' Disney CEO Bob Iger said in a call with investors and analysts. 'Today's empowered consumers want more: more compelling, high quality entertainment, more access to content, more choice and more convenience.'

'May the Force be with us all,' he added to close the call. Disney announced that Iger has extended his contract with the company until the end of 2021 in connection with the deal. The agreement still needs the approval of regulators and of Disney and 21st Century Fox shareholders. Assuming those approvals, Disney expects the deal to close in 12 to 18 months. Disney CEO Bob Iger (left) and 21st Century Fox Executive Chairman Rupert Murdoch pose together in London.

Chrome Remote Desktop Host. Disney The consolidation will create a Hollywood powerhouse with the resources to battle deep-pocketed tech companies like Amazon and Netflix. Those companies have eye-popping budgets that pour money into growing and well-respected media production. In August, Iger said Disney would end a deal that gave Netflix its most-popular movies and would instead. Paypal Money Hack No Download.

One of the services would offer film and television entertainment, while the other would feature sports, including Disney-owned ESPN. Adding Fox's programming will create a bigger and more competitive streaming library.

Iger indicated that the expanded Disney company isn't necessarily interested in building a so-called 'Netflix killer,' a giant streaming service that theoretically would roll together Hulu, Fox's assets and Disney's planned entertainment and sports streaming services. 'Obviously there will be an opportunity for consumers to buy [the company's streaming services] in their entirety, but we believe that the best way to serve the consumer is to let them be choosy,' he said. He indicated that Hulu would become the likely home to more adult-focused programming, while the planned Disney-branded service would become a hub for Disney, Pixar and Marvel family fare. With Disney becoming Hulu's controlling shareholder, the company can 'flow more content' to the streaming service, he said, adding that Hulu's management would become 'a little more clear, a little more efficient, a little more effective.'