Walt Disney buys Murdoch's Fox for $52bn

Walt Disney says it is to buy 21st Century Fox's entertainment assets for $52.4bn. The deal includes Fox's 39% stake in satellite broadcaster Sky, and the 20th Century Fox film studio, Disney announced. Fox's remaining assets, including news and sports, will form a new company. The deal ends more than half a century of media expansion by Mr Murdoch, who is 86 years old. He turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's largest news and film empires. Mr Murdoch's shift to selling assets rather than buying them has come as a surprise to those who expected him to hand over the businesses to his sons, James and Lachlan.

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