BY Christopher Dolan
On March 20, Walt Disney Studios announced that they closed a $71 billion deal with Fox entertainment.
Now that Disney and Fox have competed their deal, Disney will own even more of the movie industry. With the companies now merged, Disney will own 35-40 percent of box office sales, according to the Associated Press.
“One company having so much power is a dangerous thing. I am a huge fan of Disney and their theme parks, but the fact that they own so much of the movie marketplace is unsettling,” said freshman Alex Justo.
Disney acquired networks such as National Geographic and FX which were offset companies of Fox.
Disney already owned companies such as Marvel Studios, ESPN and ABC studios. They also own Lucasfilm Ltd., which makes the “Star Wars” films.
According to the Associated Press, before the merger Fox owned 30 percent of the streaming industry. Due to the additional 30 percent and Disney owning a majority stock in Hulu, they will own 60 percent overall of the streaming industry.
“The takeover of Disney is a bit concerning. There is an argument to be made that they are becoming very dominant in the movie department, with all the Marvel movies being released. The addition of Fox just adds to the stockpile of movies they can now produce,” said sophomore Trevor Moore.
Other students believed there was no need for concern.
“Personally, l don’t think that Disney has too much power, even with its acquisition of Fox. Although it’s purchasing media companies constantly, it’s not quite monopolizing the entertainment industry,” said junior Dan Marino. “While it’s highly anticipated Disney+ streaming service may dramatically alter the market for entertainment, I don’t think it’s inherently a bad thing, especially considering the abundance of alternative methods of streaming and the various other services available.”
Students believe Disney’s purchase of Fox Studios allows them to compete against streaming companies such as Netflix and Amazon.
“I absolutely think they could take on the bigger services. I think considering all the Pixar movies and Marvel movies available to Disney alone, they’ll have enough support from consumers to take on, or even surpass, services like Netflix,” said Marino.
The Associated Press contributed to this article.