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Rupert Murdoch is selling off TV and entertainment assets at 21st Century Fox as he faces deep-pocketed competitors and tensions between his sons. Adrian Sanchez-Gonzalez/AFP/Getty Images Ultimately, it was the Mouse that roared — and the Fox that beat a retreat from the global stage. The Walt Disney Co. Has struck a deal valued at $52.4 billion to acquire much of the Hollywood holdings of 21st Century Fox, the global television and entertainment conglomerate controlled by Rupert Murdoch and his family. The deal occurs against a backdrop of swift changes to the industry's finances and uncertainty about succession plans at both companies. The sale represents a stunning turn of events for Murdoch, a reversal of decades of alternately calculated and impulsive expansion of a sprawling media empire that started with a single afternoon paper in a forgotten city on the southern coast of his native Australia.

The most profitable and controversial part of the Fox empire — Fox News —would not be part of the deal. Yet the family is selling off other defining properties, including the movie studio 20th Century Fox. The deal is expected to face regulatory scrutiny, as it would greatly concentrate similar holdings in Disney.

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The following story is based on interviews with outside industry analysts and current and former executives for the Murdochs and for Disney. From Disney's standpoint, the acquisition offers a chance to consolidate holdings, bringing together talented leaders in television and movie production, major cable properties and a vast network of local sports cable channels to fold into Disney's ESPN programming.

Disney has also long wanted greater international distribution channels, such as those afforded by Fox's properties and relationships abroad. And it would give Disney a controlling stake in Hulu, the entertainment streaming service set up by the conventional networks to compete with Netflix and Amazon. In August, Disney announced plans to withdraw its content from Netflix and set up its own two. Praetorians mod conquerors download. One centers on sports and ESPN; the other is likely to leverage entertainment programs.

The Fox stable, including The Simpsons and the X-Men movie franchise, for example, could be folded into the mix. On Fox's part, the Disney deal appears driven by fear, opportunity and pragmatism: fear of the seemingly bottomless wallets of Netflix, Amazon and possibly Apple to spend on new shows; opportunity to cash out assets at a possible peak; and pragmatism in finally resolving the professional fates of Murdoch's sons, Lachlan and James, as well the fortunes of four other Murdoch children who do not play a role in the company. Lachlan Murdoch is 21st Century Fox's co-chairman, and his younger brother, James Murdoch, is its CEO. Both have spoken over the course of this past year of the need for what they call 'scale' in the entertainment industry: the size needed to keep flourishing. Both asserted that Fox had it.