Walt Disney now owns Star India after acquiring Fox for $71 billion

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As Disney gets bigger, Fox is unveiling its new slimmed-down operations focused on news, sports and broadcast businesses, including the Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, the Fox Television Stations Group, and cable networks FS1, FS2, Fox Deportes and Big Ten Network.

Disney's new assets also include the powerhouse Fox TV studio, responsible for hits such as "Homeland" on Showtime, "This Is Us" on NBC and "Empire" on the Fox network.

Walt Disney Co closed its $71 billion acquisition of Twenty-First Century Fox Inc's film and television assets on Wednesday, giving its upcoming streaming service a range of popular content as it takes on Netflix Inc.

Iger went on to say that the "integration process" will affect some business units more than others. We've made many critical decisions already, but some areas will require further evaluation. "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", he added. "We may not have answers to all of your questions at this moment, but we understand how vital information is, and we're committed to moving as quickly as possible to provide clarity regarding how your role may be impacted", Iger said his note to employees.

"I wish I could tell you that the hardest part is behind us; that closing the deal was the finish line, rather than just the next milestone", he wrote, in a letter obtained by CNBC.

"Having been on both sides of numerous acquisitions during my career, I have a deep appreciation for how this one impacts everyone involved, on both a personal and professional level".

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In Australia, 21st Century Fox's assets are mostly limited to 20th Century Fox Film Distributors and 20th Century Fox Home Entertainment.

On Tuesday actor Ryan Reynolds tweeted a picture of his "Deadpool" character in a Disney-branded school bus.

Iger has said in the past that Disney's entry into streaming is the company's biggest priority, and the merger with Fox enbles the company to accelerate this aspect of its business. Take a peek above, then see the full snap at the bottom of this article. The transition could see potential X-Men films developed by Fox lost by the wayside, including an X-23 spinoff of the successful Hugh Jackman-starring Logan, according to The Hollywood Reporter.

The site shows off a new banner featuring Disney stalwarts Star Wars, Toy Story, Captain Marvel and Frozen, alongside Fox properties The Shape of Water, Avatar, The Simpsons, Deadpool and more.

As part of this purchase, Disney received the entire 20th Century Fox film and television library, as well as Fox 2000 Pictures, Fox Searchlight Pictures, Blue Sky Studios, FX Networks, National Geographic Channel, and Star India.

The Mouse House is a crowded one indeed. Now that it has Fox's assets in its possession, Disney stands even taller as one of the most prominent media conglomerates in the world.

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