The sale follows the July 23 announcement that News Corporation and Haim Saban had agreed to sell Fox Family Worldwide to Walt Disney Company News Corp., through its majority-owned subsidiary Fox Entertainment, and Haim Saban each owned 49.5 percent of Fox Family Worldwide; Allen & Company Inc. owned the remaining 1 percent.
As part of the transaction, News Corporation received aggregate proceeds of approximately $1.7 billion for its interests in Fox Family Worldwide, including the repayment of indebtedness owing to News Corporation. Disney assumed or paid all other outstanding debt of Fox Family Worldwide.
