The Adjacency Expansion · Growth & Portfolio
Disney Didn't Pay $71B for Fox's Movies. It Paid to Stop Renting Hulu.
Everyone says Disney bought Fox for the X-Men and Avatar. The 2017 filing says otherwise: the prize was control of Hulu and a streaming pivot. Then Comcast bid $65B, Disney countered at $71.3B, and ~67% of what it actually bought was dying cable TV.
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