Walt Disney has completed the purchase of 21st Century Fox’s entertainment assets for $52.4 billion.

According to a statement by Disney, the deal includes the 20th Century Fox film studio and Fox’s stake in Sky.

A new company will be formed from the remaining of Fox’s assets, which includes Fox News and Sports.

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Disney chief executive Bob Iger said that Disney was “incredibly excited” about the acquisition, and that it was an “opportunity to expand iconic franchises”, including Avatar and Star Wars.

“May the Force be with us all,” Mr Iger said.

The agreement is still subject to the approval of antitrust regulators. The US Department of Justice recently sued to block AT&T’s $85.4bn deal to buy Time Warner, on the basis that it will raise prices for consumers and competitors.