Walt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4 billion (44.3 billion euros) in stock after the spinoff of the firm's television stations and Fox News channel.

"Building on Disney's commitment to deliver the highest quality branded entertainment, the acquisition of these complementary assets would allow Disney to create more appealing content, build more direct relationships with consumers around the world and deliver a more compelling entertainment experience to consumers wherever and however they choose," the company said in a statement.