Shortly after Disney's $ 71.3 billion acquisition of Fox assets ended at 12:02 ET Tuesday, the agreement's architect, Disney CEO Bob Iger, sent an internal note to the established and new entrant company employees. The title "An Historic Day for Our Company."
In the note, Iger Disney presented plans for the future, emphasizing its focus on building its right to consumer business.
He also warns of "the challenging work of uniting our businesses" that lies ahead. "Our integration process will be a development, with some companies influenced more than others," said Iger, asking everyone for patience as the company goes through the process of combining the various companies that are expected to result in about 4,000 or so redundancies. He emphasized that "we are committed to moving as quickly as possible to provide clarity" on how people's roles can be affected.
Here are parts of Iger's note:
"I welcome our new colleagues and thank employees on both sides of the patience and perseverance agreement that we worked through the long acquisition and regulation process," wrote Iger.
He talked about the future.
"As you know, Disney has never been short of ambition. We have never been happy with the status quo, and our vision for this transformative time is our boldest yet. We are rapidly transforming our company to take full advantage of developments in Consumer trends and new technology to thrive in this new and exciting time.
Our acquisition of 21[ads1]st Century Fox was driven by our strong belief that the addition to these large corporations, brands, franchises and talent will allow us to move faster, now longer and aiming higher – especially when it comes to building direct relationships with consumers.
Iger terminated the letter by addressing the uncertainty and anxiety stemming from the threatening consolidation and expected job cuts.
"I wish I could tell you the hardest part is behind us; that closing the deal was the finish line, instead of just the next milestone. What is ahead is the challenging effort to unite our businesses to create a dynamic, global entertainment company with the content, platforms and reach to deliver industry-wide experience that will engage consumers worldwide for generations to come.
The integration process will be a development, with some companies influenced more than others. We have already made many critical decisions, but some areas will require further evaluation. We cannot answer all your questions at the moment, but we understand how important information is and we are committed to moving as quickly as possible to clarify how your role can be affected. "