Dana Walden Touts 'Complete Independence' of 'New Fox' After Disney Merger

Though Dana Walden reportedly won’t stick around after Fox’s merger with Disney closes, she didn’t act like she had one foot out the door, spending a lot of time during Fox’s executive session at TCA touting “New Fox.”

Noting that Fox will be “the only network to operate with complete independence,” Walden said she wants the post-merger Fox to become the place that brings back independent studios. “We see this as great opportunity to get vibrant independent studios back on broadcast. Indies have gotten squeezed.”

Walden noted that five years ago, 16 new series on major networks came from independent studios, but that number fell to six this year.

Also Read: Fox and Disney Shareholders Vote to Approve $71.3 Billion Merger

“They’ll have more opportunity because the independents will be on a completely even playing field,” she said, specifically calling out Sony Picture TV, MGM, Lionsgate and Warner Bros. “We want to be their first choice among the Big 4 networks.” She noted that three of the past season’s top-rated series on broadcast — “Roseanne,” “The Big Bang Theory” and “This Is Us” all came from studios not affiliated with their networks.

“New Fox will be an aggressive buyer from all studios and top creators,” she said, adding that 90 percent of their development slate this past season came from their own studio, but that number will be reduced to 50 percent this year. Every new series they order, Fox will have a 50 percent ownership stake.

“Our long-term goal is a well rounded schedule with projects coming from anywhere,” said Walden.

Also Read: Disney/Fox Begins to Take Shape: Peter Rice, Dana Walden Expected to Lead Newly Merged TV Group

But she may not be there to see it.

Walden, along with 21st Century Fox president Peter Rice and Fox Television Group chairman Dana Walden are expected to move to leadership roles at Disney-ABC Television Group an individual with knowledge of internal talks told TheWrap. While Rice is an almost certain get, Walden is still a maybe. The deal is expected to be close in the first half of 2019.

Walden remained coy about her future on Thursday, saying that no decision has been made in regards to the future for her or fellow Fox TV Group CEO Gary Newman. “Some things are still to be resolved, including the management structure at both companies and what the future holds for Gary and me,” she said, adding the intrigue over “New Fox” inspired a new drinking game called “business as usual.”

But she certainly put on a good poker face.

9 Biggest Billion-Dollar Entertainment and Media Deals in 2017 (Photos)

While all eyes were on AT&T's $85 billion acquisition of Time Warner, announced in late 2016 but facing an antitrust lawsuit from the Justice Department, there were plenty of other megadeals in media, tech and entertainment that kept investment bankers busy in 2017.

Here are some of the biggest deals of the year:
Getty Images
Disney to acquire most of 21st Century Fox for $52.4 billion

In a massive deal that could change the entertainment industry even more than AT&T-Time Warner, Disney announced plans to acquire Fox's film and TV studios and much of its non-broadcast television business, including regional sports networks and cable networks such as FX, FXX and Nat Geo. Disney would also pick up Fox’s stake in the European pay-TV giant Sky — and be better positioned to win regulatory approval to complete the acquisition of the 61 percent of the company it does not already own.
Discovery Communications agrees to buy Scripps Networks Interactive for $11.9 billion

The merger of two cable powerhouses brings together channels including Discovery, Science, Food Network and HGTV – and could give the combined company a stronger position as pay-TV continues to migrate to the internet.
Discovery/Scripps
Sinclair Broadcast Group agrees to buy Tribune Media for $3.8 billion

This deal, if approved, would give conservative-leaning Sinclair control of 223 stations in 108 markets, including 39 of the top 50, covering 72 percent of households in the country. And it's only possible under rule changes implemented by new FCC Chairman Ajit Pai.
Sinclair/Tribune
Cineworld offers to buy Regal Cinemas for more than $3 billion

After a string of movie theater mergers last year, the sector has quieted down -- along with the box office. And while this isn’t yet a done deal -- or even an accepted offer -- British chain Cineworld made a late November bid of $23 a share for the U.S.’s No. 2 cinema chain.
Cineworld/Regal
Meredith Corp. acquires Time Inc. for $2.8 billion

The magazine megadeal is a sign of changing times in the publishing industry, with the owner of esteemed brands like Time, Fortune and Sports Illustrated selling to the parent of Better Homes and Gardens and Country Life – backed by $650 million from big-time conservative donors the Koch brothers.
Meredith/Time
Verizon acquires Straight Path Communications for $2.3 billion

Straight Path may not be a household name, but it was the subject of a bidding war between AT&T and Verizon. The company is one of the largest owners of millimeter wave spectrum, seen as key to the buildout of 5G networks, which should power much faster mobile internet -- better for video -- in the near future.
Verizon/Straight Path
Disney buys the rest of BAMTech for $1.6 billion

The Mouse House jumped into internet TV in a major way in 2017, announcing upcoming Disney and ESPN-branded streaming services and acquiring the rest of streaming tech company BAMTech to power those products.
Disney/BAMTech
Entercom buys CBS Radio for $1.5 billion

CBS Radio was intended to be spun off from its broadcast parent in an IPO, but instead it was scooped up by a competitor. The combined company, now the second largest radio business in the country, owns and operates 244 stations in 47 markets.
Entercom/CBS Radio
MGM buys the rest of Epix for $1 billion

The independent studio went all in on the pay-TV business, buying the rest of the premium cable network from Viacom and Lionsgate. And that's paid immediate dividends, as MGM's media networks division propelled it to a strong third quarter.
MGM/Epix

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Rewind 2017: Media and content consolidation continued this year

While all eyes were on AT&T's $85 billion acquisition of Time Warner, announced in late 2016 but facing an antitrust lawsuit from the Justice Department, there were plenty of other megadeals in media, tech and entertainment that kept investment bankers busy in 2017.

Here are some of the biggest deals of the year:

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9 Biggest Billion-Dollar Entertainment and Media Deals in 2017 (Photos)

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