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14 December 2017: Disney agrees to buy much of 21st Century Fox

Disney announced a deal to buy most of 21st Century Fox's film and TV assets, including X-Men, Avatar and The Simpsons, for about $52 billion in stock. Comcast later forced Disney to raise its bid to $71 billion. The aim was to stock up on content for a streaming service to rival Netflix. Disney+ launched in 2019 and quickly attracted millions of subscribers.

The lesson: In media, owning the content library is a strategic weapon against tech rivals.

What it meant for investors

$1,000 in Disney at the start of 2018 → $1,019 today, vs $2,519 in the S&P 500.

We start the clock at the start of 2018, the first year in our price data after the event. That is 1.0 times the money, but $1,500 less than a plain index fund made over the same years.

What Disney teaches: Expensive strategic pivots can take years to pay off; a company remaking itself for a new era can leave shareholders waiting a long time.

Bought inPrice thenWorth todayS&P 500 would be
2015$94.00$1,170$3,301
2018$108$1,019$2,519
2020$145$759$2,092

green = beat the S&P 500 · red = lost money

What if you bought Disney? Every starting year and the full story →

14 December 2017: Disney agrees to buy much of 21st Century Fox