Disney Buys Virginia Beach, Va.-Based Family Channel from Fox.
By Larry Bonko, The Virginian-Pilot, Norfolk, Va. Knight Ridder/Tribune Business News
Jul. 24--PASADENA, Calif. -- Not so very long ago, it was a relatively modest cable television enterprise based in Virginia Beach. Soon, the Family Channel will be part of the vast Walt Disney Co. empire.
Disney is acquiring the channel in a deal announced Monday before the semiannual gathering of the nation's TV writers.
Disney said it was buying Fox Family Worldwide from Rupert Murdoch's News Corp. and Haim Saban for $5.3 billion. At the heart of the sale is the Fox Family Channel, which reaches 81 million U.S. homes by cable and satellite.
It was sold …
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