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Walt Disney Co (NYSE:DIS) confirmed Friday that it is dropping the Fox name from its movie studios, separating itself in the public mind from the Fox News brand.
Disney's 20th Century Fox film studio will become 20th Century Studios, and Fox Searchlight Pictures will become simply Searchlight Pictures.
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Variety and The New York Times reported Friday that sources inside the company said the move is an effort to separate the company's image from Fox Corp (NASDAQ:FOXA) and its politically polarizing Fox News division.
Disney bought most of Fox's entertainment assets, including the two movie studios, last year for more than $70 billion.
Variety reported Friday that Disney hasn't made a decision on whether to change the names of 20th Century Fox Television and Fox 21 Television Studios.
Variety also reported that movie posters for "Downhill," set for release on Valentine's Day, carry the "Searchlight Pictures" logo without the word "Fox."
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The Twitter page for 20th Century was still @20thCenturyFox as of Friday afternoon.
"The Call of the Wild" movie, also set for release next month, will carry the 20th Century Studios logo without the Fox.
Variety reported that the iconic searchlight logo, and what may be one of the best-known stanzas of music in American culture, the trumpet fanfare that opens 20th Century Fox movies, will continue to be used.
Disney stock was trading down 0.7% at $144.09 at the time of publication Friday.
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Photo by Coolcaesar via Wikimedia.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.