Four years ago, the Walt Disney Company completed its purchase of 21st Century Fox after announcing the acquisition two years prior. Now, in 2023, it’s time to examine if Disney buying the mass media and entertainment conglomerate (and all of its enticing properties) was worth it, both from the logistics side and the pure entertainment factors. Of course, the COVID-19 pandemic affected every facet of the film and television industry, so it’s important to factor it into this assessment.
When Disney acquired 21st Century Fox for $71.3 billion, the influential media company also gained access to every title and property Fox owned. For example, Disney now has the rights to X-Men characters, the Avatar franchise, and numerous popular movies and television shows like Home Alone, The Sound of Music, The Simpsons, and many others. Additionally, the company obtained the television channels that Fox possessed or had stakes in, like FX, Fox Networks Groups, and a majority stake in National Geographic. Disney theoretically gained so much power (more than it already had) when it took on Fox’s key assets and properties, but time is the only true test to see if the purchase was successful.
Disney’s Fox Acquisition Was About Far More Than The X-Men & The MCU
When the Walt Disney Company first bought 21st Century Fox, the central aspect of the deal that many focused on was that Marvel Studios (which Disney owns) gained the rights to the X-Men. As a result, characters like Wolverine, Deadpool, Storm, Beast, and many others could appear in the Marvel Cinematic Universe (MCU). They couldn’t before because Fox retained control over them, but now, any one of them could show up in an MCU project (and some might already have). However, the deal between Disney and Fox went much farther than gaining the rights to X-Men heroes and villains.
As mentioned above, 21st Century Fox had control over many different facets of the entertainment industry. So, when Disney acquired the company, the mass media conglomeration also acquired Fox’s assets. Following the sale, Disney obtained ownership over James Cameron’s Avatar film series (and every other movie, television series, or franchise produced by Fox, like Ice Age, Home Alone, The Simpsons, and Bob’s Burgers), Fox’s film and television studios (like 20th Century Studios), the company’s cable channels, a 73 percent stake in National Geographic Partners, Star India, and a 30 percent stake in the streaming service, Hulu. So, the acquisition meant much more than the X-Men in the MCU.
2023 Broke An Incredible Disney Box Office Streak That Dates Back To 2014
Disney has long been known as one of the most successful entertainment studios and their long-running streak proved that. 2023, however, ended it.
Avatar Is The Crown Jewel Of Disney’s Fox Acquisition
Even though the X-Men of it all is only one section of the Walt Disney Company’s purchase of 21st Century Fox, it is a significant part of it. However, since Marvel Studios has yet to fully take advantage of its access to the X-Men characters, Avatar has undoubtedly been the most successful property for Disney since the company acquired Fox. It’s not even close.
Production on Avatar: The Way of Water was in a state of limbo following the release of Avatar, the highest-grossing film of all time, because director James Cameron was waiting for new technological developments to catch up with his vision for the sequel. The cast and crew started filming Avatar: The Way of Water in 2017 and finished in 2020 before premiering in late 2022. Like the first movie, the sequel was a mind-blowing success. Avatar 2 made over $2.32 billion at the box office, cementing its place as the third highest-grossing film ever, and the money went straight into Disney’s pockets. Additionally, there are three more Avatar movies in the works.
The MCU Has Barely Begun To Use Its New Fox Properties
It’s difficult to gauge whether Disney’s acquisition of 21st Century Fox has been worth it because the company hasn’t fully explored one of the (theoretical) biggest cash grabs from the sale — the X-Men. Of course, it’s only a matter of time before the X-Men are fully incorporated into the MCU, but it hasn’t happened yet. Recent movies have only teased the mutant characters, like Patrick Stewart as Charles Xavier/Professor X in Doctor Strange in the Multiverse of Madness and (spoiler alert) Kelsey Grammer as Hank McCoy/Beast in the mid-credits scene of The Marvels.
Thankfully, Deadpool 3 is coming in 2024, which will likely finally integrate the X-Men into the MCU. The success of the Ryan Reynolds-led film should indicate how much of an impact the acquisition of the X-Men will have on Disney’s assets, and perhaps it could help save Marvel. The MCU has been going in a downward trend following the release of Avengers: Endgame in 2019, as many are unhappy with the new story direction (or lack thereof). Recent films aren’t performing as well as older movies at the box office, but Deadpool 3 and the X-Men could change that.
Fox Boosted The Disney+ Library – But Has That Worked Out?
Following Disney’s purchase of 21st Century Fox, the company added a plethora of Fox titles to its streaming library on Disney+. Films like Home Alone, Avatar, the X-Men series, The Princess Bride, and television shows like The Simpsons become accessible to subscribers. While the new movies and series undoubtedly helped diversify the streaming service’s library, they have failed to boost Disney+’s popularity. Disney is steadily losing money in the streaming business, so it appears as if the Fox titles have not improved the company in that regard. Plus, it doesn’t help that Disney+’s library is poorly organized.
Disney Is Reportedly Considering Selling FX & National Geographic
Reports claim that the Walt Disney Company is contemplating selling two cable channels it acquired from 21st Century Fox — FX and National Geographic. As mentioned above, despite its numerous assets and divisions, Disney is struggling to meet expectations regarding earnings. Its movies have not performed as well as they hypothetically should have at the box office, and streaming has been an unforeseen obstacle. As a result, the entertainment conglomerate is reportedly considering hearing offers for FX and National Geographic, which doesn’t bode well for the notion that Disney buying Fox was worth it.
Disney’s Next 2 Years Of Movies Are A Bit Bleak
By looking at the next two years of scheduled releases for Walt Disney Pictures movies, the future of the production studio appears unpromising.
Was Disney’s Fox Acquisition Worth It – Or Is It Still Too Soon To Tell?
By taking all this information into account, it would seem as if the Walt Disney Company’s 2019 acquisition of 21st Century Fox was worth it (for now). Of course, the Fox titles have not been helping Disney+, and selling FX and National Geographic isn’t a good sign. However, since Disney obtained numerous significant assets from the sale, these are only small parts of the big picture. If anything, the success of Avatar: The Way of Water (and the franchise’s future sequels) and the impending integration of the X-Men into the MCU should make Disney happy about buying Fox in 2019.
