What Is 21st Century Fox

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Last updated: April 15, 2026

Quick Answer: 21st Century Fox was a major American multinational mass media company headquartered in New York City, formed in 2013 after the split of News Corporation. It was acquired by The Walt Disney Company in March 2019 for $71.3 billion.

Key Facts

21st Century Fox was established on June 28, 2013, following the split of News Corporation into two entities.
The company was valued at approximately $80 billion at the time of its acquisition announcement in 2017.
Disney completed its acquisition of 21st Century Fox on March 20, 2019, after regulatory approvals in multiple countries.
The deal excluded Fox News, Fox Broadcasting, and several other assets, which remained under the Fox Corporation.
Major film studios under 21st Century Fox included 20th Century Fox, responsible for franchises like X-Men and Avatar.

Overview

21st Century Fox was a leading global media and entertainment conglomerate that operated from 2013 until its acquisition by The Walt Disney Company in 2019. It emerged from the corporate restructuring of News Corporation, which divided its publishing and entertainment assets into two distinct companies.

The company played a pivotal role in shaping modern film, television, and cable programming, with ownership of major studios and networks. Its portfolio included high-profile assets such as 20th Century Fox, FX Networks, and significant international holdings like Sky plc in the UK.

Founded on June 28, 2013, 21st Century Fox was created when News Corporation split into two separate publicly traded companies: one focused on publishing and the other on entertainment.
The company was led by Rupert Murdoch as Chairman and Co-CEO, alongside Chase Carey as President and Co-CEO, maintaining strong executive continuity from News Corp.
21st Century Fox owned 20th Century Fox Film Studio, which produced major franchises including Avatar, X-Men, Deadpool, and Planet of the Apes.
It held a 39% stake in Sky plc, a major European satellite broadcaster, which it later sold to Comcast in 2018 amid regulatory pressures.
The company operated major U.S. cable networks such as FX, Fox News Channel (until the split), and National Geographic, reaching millions of households.

How It Works

21st Century Fox functioned as a vertically integrated media corporation, producing, distributing, and monetizing content across film, television, and digital platforms globally. Its business model combined creative production with strategic licensing and international expansion.

Film Production: 20th Century Fox produced and distributed over 20 major theatrical releases annually, contributing to a global box office revenue of $1.8 billion in 2018 alone.
Television Broadcasting: The Fox network aired primetime hits like Empire and The Last Man on Earth, while FX delivered critically acclaimed series such as Atlanta and The Americans.
International Operations: Through subsidiaries in Asia, Latin America, and Europe, 21st Century Fox reached over 1.5 billion subscribers in more than 150 countries.
Digital Distribution: The company invested in streaming platforms like Hulu (in which it held a 30% stake) and Star India’s Hotstar to adapt to changing viewer habits.
Licensing and Merchandising: Franchises like Deadpool and Ice Age generated over $500 million annually in merchandise, games, and theme park rights.
Regulatory Compliance: As a multinational entity, it navigated complex regulations in media ownership, including FCC rules in the U.S. and competition laws in the EU and India.

Comparison at a Glance

A comparison of 21st Century Fox with its major competitors highlights its market position prior to acquisition.

Company	Market Cap (2018)	Key Assets	Global Reach	Notable Franchises
21st Century Fox	$78 billion	20th Century Fox, FX, Sky	1.5B+ subscribers	X-Men, Avatar, The Simpsons
Disney	$155 billion	Marvel, Pixar, ABC	2B+ viewers	Star Wars, Frozen, MCU
Warner Bros.	$32 billion	HBO, DC Comics	1.2B+ viewers	Harry Potter, DC Universe
Comcast (NBCUniversal)	$180 billion	Universal, Peacock	1.8B+ viewers	Fast & Furious, Jurassic Park
Sony Pictures	$25 billion	Columbia, TriStar	1B+ viewers	Spider-Man, Jumanji

This table illustrates that while 21st Century Fox was a major player, its scale was smaller than industry giants like Disney and Comcast. However, its specialized content and international footprint made it a prime acquisition target.

Why It Matters

The rise and acquisition of 21st Century Fox marked a turning point in media consolidation, reshaping the entertainment landscape. Its integration into Disney signaled a shift toward streaming dominance and intellectual property control.

Streaming Wars: Disney’s acquisition strengthened its position against Netflix and Amazon, enabling the launch of Disney+ in November 2019 with expanded content libraries.
Job Impact: The merger led to approximately 4,000 job cuts due to operational overlaps, particularly in distribution and administrative roles.
Content Library Expansion: Disney gained access to over 600 film titles and 20,000 hours of TV, including The Simpsons and Family Guy.
Global Influence: The deal enhanced Disney’s reach in India and Latin America through Fox’s regional networks and stakes in Star India.
Antitrust Scrutiny: The U.S. Department of Justice required Disney to divest Fox’s regional sports networks to gain approval, valued at $10.7 billion.
Cultural Shift: The end of 21st Century Fox marked the decline of traditional media empires and the rise of tech-driven entertainment conglomerates.

The legacy of 21st Century Fox endures through its iconic films and shows, now integrated into Disney’s global strategy. Its story exemplifies the rapid transformation of the media industry in the 21st century.