Disney struck a deal on Thursday to help build up its arsenal of content as it prepares to launch its own video streaming service. The media giant agreed to pay more than $52 billion for most of 21st Century Fox, adding the company's film and TV studios, international properties and channels such as FX. But BTIG analyst Rich Greenfield says doesn't understand why the company wants to increase its exposure to the "troubled legacy media business." "This feels like Disney is cementing itself in the past, rather than aggressively moving into the future," he told Cheddar in an interview shortly after the deal was announced. "There were a lot of transactions they could've done that would've been a lot more exciting than this." The alternatives? Greenfield says Snap, Twitter, Activision-Blizzard, or Spotify would all have been better options. But the deal does give Disney ownership of high-profile franchises such as "X-Men" and "The Simpsons," titles that could make the library for its own planned streaming service more attractive. The company said in August that it will pull content off Netflix in 2019. Instead, films from "Iron Man" to "Star Wars" to "Toy Story" will only be available on its own platform. To watch the full interview, [click here](https://cheddar.com/videos/btig-analyst-rich-greenfield-on-disney-fox-deal).

Share:
More In Business
Small grocers and convenience stores feel an impact as customers go without SNAP benefits
Some small grocery stores and neighborhood convenience stores are eager for the U.S. government shutdown to end and for their customers to start receiving federal food aid again. Late last month, the Trump administration froze funding for the SNAP benefits that about 42 million Americans use to buy groceries. The U.S. Department of Agriculture says about 74% of the assistance was spent last year at superstores like Walmart and supermarkets like Kroger. Around 14% went to smaller stores that are more accessible to SNAP beneficiaries. A former director of the United Nations World Food Program says SNAP is not only a social safety net for families but a local economic engine that supports neighborhood businesses.
Load More