DISNEY COMPLETES FOX FAMILY BUY.Byline: Greg Hernandez Staff Writer BURBANK - The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. on Wednesday completed its acquisition of cable operator Fox Family Worldwide for $5.2 billion, about $100 million less than the original purchase price agreed to in July. In purchasing the operation, which includes the Fox Family Channel, Disney paid approximately $2.9 billion in cash and assumed $2.3 billion in Fox Family debt from Haim Saban  Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. and the Fox Broadcasting Co., a unit
of News Corp. Ltd.
Disney apparently seized on an opportunity this week to seal a deal with eager sellers for the lowered price. The original price was seen by industry watchers as too high considering the depressed advertising market and Disney's current diminished stock value. ``We like the deal strategically but we always thought Disney paid a little high a price,'' said David Miller David Miller could refer to any of the following:
Disney, owners of the ABC television ABC Television may refer to:
 The novelty of research or terms used in this article is disputed.in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. programs as ``Nightline,'' ``Good Morning America'' and various dramas and sitcoms. The deal also gives Disney 76 percent interest in Fox Kids Europe, which reaches 24 million homes, and in a Latin American channel called Fox Kids with 10 million subscribers. After the deal was closed Wednesday, Disney Chairman Michael D. Eisner said in a statement: ``We are pleased to have completed this strategic acquisition, and are now turning with excitement to the launch of our new ABC Family service in the United States and the continued expansion of the Fox Kids services, which will ultimately be rebranded in Europe, Latin America and elsewhere.'' |
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