Disney has reached a merger deal with 21st Century Fox, paying media mogul Rupert Murdoch $52.4 billion for most of his company.
The New York Times has described it as a huge salvo by a traditional media company responding to the growth of online streaming companies, namely Netflix and Amazon Video.
CNN Money notes that Disney has struggled as these online upstarts have led to "cord-cutters" reducing subscriptions to traditional cable packages.
Disney is expected to release two of its own streaming services: one of them the already announced sports service ESPN Plus, the other an unnamed movie and TV service built around its various brands, including Marvel, Disney and Pixar.
Now with even more TV and movie content under its belt, the takeover – provided it closes – could have huge repercussions for the consumer media landscape, potentially providing more options (and costs) in the home streaming market.
Here's a look at what now lives in The House of Mouse.
Fox TV studios: Disney will increase its content library now it owns the studio that currently produces shows including The Simpsons, Empire, Family Guy, Homeland, Modern Family (though Fox sold the broadcast rights to ABC), and This is Us (Fox sold the broadcast rights to NBC).
20th Century Fox: The movie studios that brought us Avatar, Star Wars: A New Hope, The Sound of Music, and owns the rights to parts of the Marvel universe including the X-Men, Fantastic Four and Deadpool, will be under Disney's control. The NYT expects the studios to be downsized following the takeover.
Hulu: Disney already had a 30 percent stake in Hulu, a competitor to Netflix, but it's now bought 21st Century Fox's stake as well, giving it majority control over the streaming service.
FX and Nat Geo: These are two of the cable networks moving to Disney as a result of the merger.
FX has recently produced hit shows including Atlanta, American Horror Story, It's Always Sunny in Philadelphia, The Americans, Archer, Fargo and Legion.
Fox regional sports: While Fox Sports 1 and 2 are staying under Murdoch's control, the Disney deal includes the sale of Fox's regional sports network, which includes Fox Sports North.
FSN broadcasts Minnesota Twins, Timberwolves, Wild and Lynx games. It's unclear what happens with the network, though Recode notes most of these are tied up in pay-TV deals, so it's unlikely they'll shift to ESPN Plus anytime soon.
ABC: Disney bought the ABC network in 1995 in what at the time was the second largest media merger in history. It's now part of the Disney Television Group and broadcasts shows including Grey's Anatomy, Jimmy Kimmel Live, and Scandal.
ESPN: As part of its $19 billion purchase of ABC, Disney assumed its 80 percent stake in ESPN and now plans to launch a streaming service in early 2018 that will feature 10,000 live sports events in its first year, including MLB, NHL, MLS, tennis and college sports.
Disney Studios: In recent years Disney's famous movie studio has produced runaway hits including Frozen, Tangled and Big Hero 6, to go with its back catalog of masterpieces including The Lion King, Beauty and the Beast, Cinderella and Snow White and the Seven Dwarves.
Marvel Studios: Arguably the most successful studio under Disney's ownership right now, it's responsible for the massive, inter-linked movie and TV universe that has spawned The Avengers, Guardians of the Galaxy, Iron Man, Thor, Captain America, Daredevil, Jessica Jones, Ant Man, Doctor Strange and Black Panther.
The acquisition of Fox could bring the X-Men and Deadpool into the mix, which Ryan Reynolds is very excited about.
Lucasfilm: Disney bought Lucasfilm in 2012 for $4 billion and immediately set about making more Star Wars movies, starting with The Force Awakens in 2015, following it up with Rogue One last year, The Last Jedi which opens on Thursday, and a future Han Solo prequel.
Pixar: After first collaborating on Toy Story in 1995, Disney eventually bought Pixar in 2006. It's responsible for some of Disney's finest computer-generated movies, including Up, Wall:E, The Incredibles, Ratatouille, Finding Nemo, and Inside Out.
What it won't own
Not moving to Disney as part of the takeover is the Fox broadcasting network, which includes local TV news stations such as Fox 9.
This also means Murdoch will retain ownership of Fox News, the Fox Business Network, Fox Sports 1 and 2, and the Big Ten Network.
The Washington Post reports that these will be spun off into a newly-listed company.