A Wall Street analyst has predicted that up to 10,000 jobs may be lost as a result of Disney’s pending buyout of 21st Century Fox.
As detailed in the Hollywood Reporter, there are widespread expectations of “cost-savings” following the buyout in the realm of $2 billion, owing mostly to the fact that there is a “high degree of overlap” between Fox and Disney’s operations. The most likely place for these savings to be made, argues analyst Rich Greenfield, is job cuts, with estimates of anywhere between 5,000 and 10,000 jobs being lost.
It’s important to note that deals of this nature (and size) take time to go into effect; there are various regulatory bodies involved and the deal will face some scrutiny before it completes. The buyout would make Disney arguably the most powerful movie studio of all time and, as such, is being closely examined as it progresses – not least by Congress, where Democratic members have called for hearings examining the deal more closely. It will be some time before we know the full impact of the buyout.
For more on this, check out our rundown of the movie and TV properties Disney can expect from Fox, or read Disney CEO Bob Iger’s view on Deadpool and maintaining its R-rating.
Matt Davidson is a freelance writer for IGN. Contact him on Twitter if you’re into that kind of thing.