Disney buys Fox Family for $3 bln

LOS ANGELES (AP) - The Walt Disney Co. is buying the children's cable
network Fox Family Worldwide for $3 billion in cash plus the
assumption of $2.3 billion in debt. The deal announced Monday adds
another major cable outlet to Disney's portfolio, which already
includes ESPN, the Disney Channel and stakes in A&E and Lifetime.
The Fox Family Channel, which Disney plans to rename ABC Family,
reaches about 81 million subscribers in the United States. Disney
bought Fox Family from News Corp. and Saban Entertainment, which
each owned 49.5% of the company. The sale came about after Saban, a
major children's programmer which created the "Mighty Morphin Power
Rangers," exercised its right to have News Corp. buy out its share.

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