Men, Fantastic Four Back At Marvel At Midnight; Ryan Reynolds Celebrates

It's finally complete. Disney closed its $71 billion acquisition of Fox's entertainment assets on Wednesday, more than a year after the mega merger was proposed.

While the Fox led X-Men films have done well at the box office, there's always been a want for them to return to Marvel after the MCU took off.

With the current Avengers franchise drawing to a close in next month's Endgame and Disney's new streaming platform gearing up for launch later this year, it looks like a new era of Marvel superheroes is upon us.

There are a few more X-Men movies already on the way from Fox, and those will be seen through under Disney's umbrella.

Disney also said Kevin Mayer and James Kapenstein have stepped down from its board.

As part of the acquisition deal a small component of 21st Century Fox has been allowed to set up a new company - Fox Corp. - and operate independently. "What lies ahead is the challenging work of uniting our businesses to create a dynamic, global entertainment company with the content, the platforms, and the reach to deliver industry-defying experiences that will engage consumers around the world for generations to come". Of course, whether Disney will eventually phase out Fox properties that do not fit with their particularly family-friendly image remains to be seen. He will serve alongside Rupert Murdoch, the founder of Fox, and Lachlan Murdoch, the company's chief executive and chairman.

X-Men and other movies from Fox's studios could be added to Disney's upcoming streaming service.

Did you know that Disney owned all of these companies?

Iger has said he plans to continue to operate 20th Century Fox, Fox Searchlight and other film labels, many of which release the kind of R-rated films that Disney previously stayed away from.

As per The Hollywood Reporter, 4,000 layoffs are expected as Disney promises US$2 billion in cost savings, with cuts to be felt in roles that are overlap between the two companies, such as marketing, distribution, and home entertainment. Disney will also get Fox's 30 percent ownership of Hulu, giving Disney a controlling share of 60 percent.