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Disney has formally sealed the deal on its $71 billion acquisition of 21st Century Fox.

disney 21st century fox

“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders,” Disney chairman-CEO Bob Iger said in a statement.

“Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”

Disney took possession of 21st Century Fox at 12:02 a.m. ET. Assets changing hands in the deal include: Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family, and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions, and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky, and Endemol Shine Group.

Disney emphasized that the transaction is designed to help the company “increase its international footprint” and “expand its direct-to-consumer offerings.”

By Damilola Faustino

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