The internet promised the dawning of a new era of decentralized content. But as has been the case with so many of the internet’s promises, this one turned out to be a lie. Media companies keep merging and getting bigger. The latest chapter in this story is the closing of Disney’s $71.3 Billion to acquire large parts of 21st Century Fox. Ironically, one of the key drivers of the deal is Disney’s determination to compete with Netflix in the streaming wars. The Kingdom will need all its magic to pull off a win in that fight and give Mickey another prize for his mantle.

+ NYT: Disney Moves From Behemoth to Colossus.

+ “In this era of ever-accelerating media consolidation, the implications of this deal are pretty staggering — not to mention alarming to anyone who’s at all concerned about said consolidation.” Vox: Here’s what Disney owns after the massive Disney/Fox merger. (Mickey is less mini than ever…)

+ While Disney has created the biggest entertainment company, the remaining pieces of Fox (including Fox News) might be the most intriguing. Gabe Sherman in Vanity Fair: “Inside Fox, staffers believe that C.E.O. Lachlan Murdoch is likely to nudge the network in a less pro-Trump direction.” (That would take a lot of nudges.)