Disney To Lease The “Fox Lot” For Seven Years

More details on Disney’s pending acquisition of 21st Century Fox have been revealed, with reports coming from Variety that Fox will continue to own the Fox Lot in Century City after the deal is done, but Disney will be leasing it for seven years, as it is a very active studio, creating many shows such as Modern Family, Speechless and Fresh Off the Boat, The Orville, The Mick and L.A. to Vegas plus more.

This will allow Disney time to organize since its Burbank facilities cannot accommodate an influx of new staff from Fox that would come with the deal and have space to film all the shows/movies.

21st Century Fox President Peter Rice informed employees on the lease agreement in a meeting on the lot on Thursday, which took around an hour.  With Rice adding that redundancies will be coming for some and promised “big severance packages” similar to what was offered by Fox to employees a couple of years ago, which is one months pay for each year they worked.

The deal is expected to take between 12 to 18 months to complete and that there would be no short-term effect on business operations.  With employees being told that films are still greenlit and that production on movies like Marvel’s Gambit are still expected to commence in the upcoming months.

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