The deal comes as media companies look for ways to survive as consumers shift their attention to ad-free streaming services from Netflix and Amazon, cut the cord in increasing numbers and spend an inordinate amount of time glued to mobile screens and social media.
Disney's already declared that it is going to war with Netflix by launching its own streaming service. But that means it needs all the programming it can get as it plans for a direct-to-consumer, digitally-dominated media future. That's where Fox comes in.
To read more about how Fox's assets make for Disney's first shot in its war with Netflix, click here.
In other news:
After conquering social news, NowThis is going after food videos - and BuzzFeed and Tastemade should be worried. But unlike others, NowThis Food is dedicated to showcasing food as it relates to culture, communities and the environment.
Time magazine has named the #MeToo 'Silence Breakers' as its Person of the Year - spurning Trump. The 'Silence Breakers' include Taylor Swift, Ashley Judd, Rose McGowan, Megyn Kelly, and Terry Crews.
Google just raised the stakes in its battle with Amazon by blocking YouTube from working on the Echo Show and Fire TV. Google said it took action because Amazon doesn't carry Google hardware or let Google hardware stream Amazon Prime Video.
Grindr is trying to shake up the sleepy LGBTQ media sector with its new millennial lifestyle magazine Into. The company says that the magazine, which covers a range of political and lifestyle issues impacting the LGBTQ community, has exceeded expectations.
Soon you'll be able to attend a ClassPass workout from the comfort of your home for $15 a month. Fitness subscription service ClassPass will begin livestreaming original, interactive fitness videos in early 2018.
Walmart is changing its name - and it reveals a key strategy for the company's future. Walmart is changing its official name from Wal-Mart Stores, Inc., to Walmart Inc., effective February 1, 2018.
Advertising holding giants WPP, Omnicom and Publicis intend to increase their spend on Amazon's ad products and platforms next year, the Wall Street Journal reports. Each firm plans to boost spending between 40% and 100% from 2017, drawn by Amazon's scale and data, which lets advertisers know if their marketing led to brand awareness lifts or online sales.
Daily news digest TheSkimm is exploring a possible sale after being contacted by an interested buyer, the Wall Street Journal reports. The email newsletter reaches more than 6 million subscribers, who are mostly women.
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