Who bought Fox News in 2020? This question has been on the minds of many since the media outlet’s acquisition by a new owner. The acquisition marked a significant shift in the ownership of one of the most influential news networks in the United States.
In 2020, Fox News was purchased by The Walt Disney Company, a global entertainment and media conglomerate. The deal, valued at approximately $13.8 billion, included the acquisition of Fox News’ cable network, Fox Business Network, and 22 regional sports networks. This move by Disney aimed to strengthen its position in the media industry and expand its reach into the news and sports markets.
The acquisition of Fox News by Disney was seen as a strategic move to diversify its revenue streams and compete with other major media companies. With Fox News being one of the most-watched cable news networks in the United States, Disney sought to leverage its popularity and reach. The deal also provided Disney with access to a wealth of content, including popular shows and movies, which could be distributed across its various platforms.
Prior to the acquisition, Fox News was owned by 21st Century Fox, a company that was later split into two separate entities: The Walt Disney Company and a new company called Fox Corporation. The division of assets was part of a larger restructuring process aimed at simplifying the ownership structure and focusing on core businesses.
The acquisition of Fox News by Disney has raised concerns among some critics who believe that the network’s conservative bias may be influenced by its new owner. However, Disney has maintained that it will continue to operate Fox News as an independent news organization, ensuring that its content remains unbiased and focused on delivering accurate news to its viewers.
In conclusion, The Walt Disney Company bought Fox News in 2020, marking a significant event in the media industry. The acquisition has provided Disney with a strong presence in the news and sports markets, while also raising questions about the potential impact on the network’s editorial independence. Only time will tell how this new ownership will shape the future of Fox News and its role in the media landscape.
