Walt Disney Co. to acquire parts of 21st Century Fox Inc.

Disney, the parent company of ABC News, announces today it has entered into an agreement to acquire assets of 21st Century Fox, including the film and television studios, cable entertainment networks and international TV businesses.
2:38 | 12/14/17

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Transcript for Walt Disney Co. to acquire parts of 21st Century Fox Inc.
Did she hear it a fourth? Breaking news, the blockbuster Disney deal, the parent company of ABC buying many of the as sets of 21st century fox. Many Rebecca Jarvis is here. Give us details. This is a major deal. Good morning, robin. Yes, major deal for Disney and 21st century fox as well as consumers. The new combined company will include fox's movie and TV studios and cable networks and together the two company also have 46 million subscribers around the world. This morning, a game-changing deal in the entertainment history, the Walt Disney company which owns ABC news and is home to family-friendly hits like "Frozen." ??? Let it go ??? Reporter: "Pirates of the caribbean." Your lucky day. Reporter: And "Coco." I'm turning into a skeleton. Cue the music. Reporter: Acquiring 21st century fox's movie and TV empire which includes edgier assets like FX and natgo Joe. For "Star wars" lovers it means bringing all the episodes under one roof. Superhero fans can look forward to potential reunions like "X-men" and "The fantastic four" with "Avengers." And it will add shows like "The simpsons." Oh. Reporter: And classic films like "The sound of music" to Disney's library. ??? La a feet to follow so ??? Reporter: Just as the company lays the groundwork to launch its own streaming platform in 2019 and pull content from Netflix. The mastermind behind the union Disney's CEO Bob iger who since taking over in 2005 has expanded the company's theme parks, opening Shanghai Disney resort and acquired popular creator like Pixar, lucasfilm and marvel. While, there's been rect speculation of iger running for president it looks like for now he'll have his hands full with this new entertainment juggernaut. Meantime, Fox News channels like Fox News and fox business as well as Fox Sports are not part of the deal and will be offered to exist fox shareholders in the new company and like all ago which signatures this is still subject to regulatory approval but you can't understand the importance of this. Absolutely. And a lot of questions for

This transcript has been automatically generated and may not be 100% accurate.

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