FOX president updates on the DISNEY deal

Variety is reporting that Fox president Peter Rice will be ready to close the Disney buyout as soon as January 1, 2019.

The trade is reporting that Rice has informed employees of the studio the full effects of the buyout by Disney will come in the second quarter of 2019, New Fox will be ready to go by the first day of the new year. The so-called New Fox will house assets not sold as part of the merger.

Questions remain over the regulatory terms for the new company, whilst others question how much of the Fox workforce will keep their jobs after the merger. Variety expects that most of the New Fox division will remain in post, though a higher number of the employees transferring over to Disney will be laid off.

It is understood that Rice will join Disney as their new head of entertainment TV operations after the deal is done.

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