The blockbuster news yesterday was that Disney was acquiring Fox to the tune of $52B. In the news, however, there was no mention of what this would do (or not do) to Fox News.
Today provides the answer and it appears Rupert Murdoch and Fox News are pulling an Obi Wan (yes, yes, I am familiar with the theory that Obi really didn’t become more powerful when Darth killed him. . . ).
Not only is Fox News not dead, Rupert Murdoch is keeping it and appears ready to roll a portion of the $52B into growing it.
From Politico :
As Rupert Murdoch unloads $52.4 billion worth of assets to Disney, one thing is clear: He is doubling down on Fox News.
Thursday’s blockbuster deal, in fact, may even provide an opportunity for the conservative cable news network to expand its impact.
My read is that this appears to be a direct response to the media leviathan, the Sinclair Media Group , that has quietly been building a news empire that dwarfs Fox News.
Currently, the Sinclair Media Group owns 173 stations nationwide and is looking to add 40 more.
Fox News? Currently owns 28.
The story-within-the-story of the Disney/Fox merger is that while, yes, Disney just made a huge acquisition and Rupert Murdoch is $52B richer, it appears Murdoch is about to ratchet up his game against the Sinclair Group. This is going to be interesting to watch.