Disney is shuttering the Fox 2000 filmmaking label, marking the latest casualty in the days following the studio’s $71.3 billion acquisition of much of 21st Century Fox’s assets.
The entertainment behemoth is committed to completing the Fox 2000 films currently in production, and it is unclear what this decision now means for the division’s head Elizabeth Gabler and her team.
According to insiders, Disney’s $71.3 billion acquisition of much of 21st Century Fox’s film and television assets doubled the number of film banners Disney manages. Alongside 20th Century Fox and Fox Searchlight, there wasn’t a clear direction for Fox 2000.
However, Fox 2000 releases remain part of the Fox film library, meaning they could appear on the streaming services that Disney is launching. Fox 2000 has produced hits such as The Fault in Our Stars, Life of Pi and Diary of a Wimpy Kid.
The division’s head, Gabler, has over time built a reputation for picking literary properties and turning them into big films.
The division is the latest casualty following the completion of the takeover last week. Disney began laying off senior staff at Fox on Thursday. Domestic distribution chief Chris Aronson, international distribution chief, Andrew Cripps, chief content officer Tony Sella, and Twentieth Television president, Greg Meidel were among the first to go.
Following the deal, Disney’s media empire is now worth a total of $95.79 billion in assets that include a $9 billion consumer products division made up of ESPN Books, Maker Studios, Marvel Press, StarWars.com and The Muppets Studio.
Its parks and resorts business comes in at $29.5 billion and is made up of Disneyland, Disneyland Paris and Disneyworld Resorts. Walt Disney Studios is worth $16.3 billion, incorporating Dreamworks II, Lucasfilm, Marvel and Pixar.