The biggest winner of the 91st Academy Awards wasn’t the company with the most wins, but the one that stands to gain the most this time next year.
Disney hauled in four Oscar wins on Sunday, taking home trophies for costume design and production design as well as the prize for animated short and original score. While it was a good showing for the House of Mouse, the real bonus will come from its $71.3 billion acquisition of 21st Century Fox.
Fox owns a number of entertainment assets for film and television, most of which will fall under the Disney banner before the end of the year. As part of the deal, Disney will acquire 20th Century Fox’s film and television divisions.
Fox will keep the Fox network, Fox News Channel and Fox Business Network, as well as several sports networks and local TV stations.
Owning the film arm of 20th Century Fox not only grants Disney a number of Marvel characters that had been sold off before it acquired Marvel in 2009, but also the powerhouse Fox Searchlight studio. Fox Searchlight is a sister company that operates independently from 20th Century Fox and has produced films like “The Shape of Water,” “Slumdog Millionaire,” “12 Years a Slave” and “Birdman,” all of which won best picture at the Oscars in the last decade.
Together 20th Century Fox and Fox Searchlight won seven Oscars on Sunday, the most of any other company, including best actress and best actor, two of the most prestigious awards of the night.
Fox’s “Bohemian Rhapsody” had the most wins of any film with four Oscars, including for Rami Malek’s portrayal of Freddie Mercury. The film also took home trophies for sound editing, sound mixing and film editing.
From Fox Searchlight, “The Favourite’s” Olivia Colman hoisted the best actress Oscar at the end of the ceremony and “Skin” won for best short film.
National Geographic, which is majority-owned by Fox, won best documentary feature for “Free Solo.”
Disney’s “Black Panther” earned three Oscars — for costume design, production design and score, while “Bao” took home the award for animated short.
In addition to the prestige of an Academy Awards, “Black Panther,” “Bohemian Rhapsody” and “The Favourite” together brought in more than $2.3 billion at the global box office, according to Comscore data.
Disney has traditionally excelled in the animated feature and animated short categories. Although, this year was the first year since 2012 that the company didn’t win the former. Instead, the award went to Sony’s “Spider-Man into the the Spider-Verse.”
With Fox under its banner, Disney could dominate next year’s Oscar race. Although, of course, only time will tell.
For a full list of the 91st Academy Award winners click here.
Source:CNBC
