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Disney finishes Fox Family deal

Disney said it completed the acquisition of Fox Family Worldwide, Inc.
from Haim Saban and Fox Broadcasting Company Wednesday.

The
acquisition closed with a final purchase price of $5.2 billion - $100 million less than originally negotiated - including approximately $2.9 billion in cash and the assumption of $2.3 billion in Fox Family debt.

Fox parent News Corp. said it received $1.7 billion in proceeds from the sale, including a chunk of debt owed by Fox Family to News Corp.

Disney said it would re-brand Fox Family as ABC Family in the U.S. and ultimately re-brand the Fox Kids channels overseas as well. - Steve McClellan