On the cusp of offering a streaming service for all Disney content, which would probably have been compelling on its own, Disney now has access to all of Fox's programming, FX networks, 20th century fox films, National Geographic, Fox's international channels, and is now a majority stake holder in Hulu. Netflix is about to have its lunch eaten.

Interestingly enough, they did not acquire Fox news or Fox sports which will remain separate companies under the Murdoch family.