Peter Rice, Dana Walden to Lead Disney-ABC's TV Networks and Studio After Fox Deal Closes

Peter Rice and Dana Walden will lead Disney-ABC’s TV networks and studio after the Fox acquisition closes, the Walt Disney Company said on Monday. Under them, John Landgraf and Gary E. Knell will serve as chairmen of FX and Nat Geo Partners.

Ben Sherwood, the co-chair of Disney Media Networks and the president of the Disney-ABC Television Group, will remain in his role until the Fox deal is finished. We learned last month that he would be leaving.

The 21st Century Fox executives selected to move over to the high-level Disney roles are not unexpected — but they are very noteworthy and important promotions.

Also Read: Nick Cannon Is Developing a Weekly Late-Night Show at Fox

Rice is currently president of 21st Century Fox and chairman and CEO of Fox Networks Group. Walden currently oversees Fox’s broadcast network and its studio with partner Gary Newman, who is expected to stay put. Knell is currently president and CEO of the National Geographic Society; Landgraf is CEO for the FX networks and its studio.

Soon, Walden, Landgraf and Knell will report to Rice — as will Gary Marsh, president and chief creative officer of Disney Channels Worldwide. James Goldston, the president of ABC News, will also report in to Rice, who himself reports directly to Bob Iger.

Here is the list of Walden’s direct reports:
– Channing Dungey, president, ABC Entertainment
- Patrick Moran, president, ABC Studios
- Jonathan Davis and Howard Kurtzman, presidents of Twentieth Century Fox Television
- Bert Salke, president, Fox 21 Television Studios
– Tom Ascheim, president, Freeform
- Wendy McMahon, president, ABC Owned Television Stations Group

Also Read: Hope Hicks Hired as New Fox's Chief Communications Officer

“The strength of 21st Century Fox’s first-class management talent has always been a compelling part of this opportunity for us,” said Iger, the chairman and CEO of The Walt Disney Company. “Upon completion of the acquisition, this new structure positions these proven leaders to help drive maximum value from a greatly enhanced portfolio of incredible brands and businesses.”

“I want to personally thank Ben Sherwood for his years of service at ABC and Disney,” he added. “Ben has been a valued colleague, and I deeply appreciate his many contributions and insights, as well as his professionalism and cooperation in this transition.”

“I love making television and have been fortunate to work with incredibly talented executives and storytellers,” Rice said. “Disney is the world’s preeminent creative company, and I look forward to working for Bob, and with his exceptional leadership team, to build on that amazing legacy. I also want to thank Rupert, Lachlan and James Murdoch for the privilege of working on such a wide array of movies and television, both entertainment and sports. It has been a wonderful thirty years.”

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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