The Walt Disney Company has announced that they will acquire 21st Century Fox in a deal worth $52.4 billion in stock, according to a statement released on December 14, 2017. The deal will have Disney acquiring Twentieth Century Fox Film and Television studios, along with cable and international television businesses.

Fox will be separating the Fox Broadcasting network and stations, Fox News, Fox Business, FS1, FS2 and the Big Ten Network into a newly listed company that will be spun off to its shareholders.

“The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before,” said Disney CEO Robert A. Iger in a press release. “The deal will also substantially expand our international reach, allowing us to offer world-class storytelling and innovative distribution platforms to more consumers in key markets around the world.”

The deal will send franchises and properties including Avatar, X-Men, Fantastic Four, Deadpool, The Simpsons and many more to Disney; accordingly, there is already widespread fan speculation with regards to how the Marvel characters that have been under Fox’s control for nearly two decades could possibly be used in the context of the Marvel Cinematic Universe. While no formal announcement has been made regarding bringing the X-Men or the Fantastic Four into future MCU films, the press release does say that this acquisition will provide “Disney with the opportunity to reunite the X-Men, Fantastic Four, and Deadpool with the Marvel family under one roof and create richer, more complex worlds of interrelated characters and stories that audiences have shown they love.”