Disney's massive deal to buy the majority of Fox's assets and franchises--including The Simpsons, Family Guy, Deadpool, and X-Men--for around $71 billion has finally gone through. Fox and Disney announced in their own press releases that the acquisition is expected to become effective at 12:02 AM EST on March 20. [Update: the deal has now officially closed, and as part of it, Disney is expected to cut "thousands" of jobs]

"This is an extraordinary and historic moment for us--one that will create significant long-term value for our company and our shareholders," Disney CEO Robert Iger said in a statement. "Combining Disney's and 21st Century Fox's wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era."

Disney said buying Fox's franchises will allow Disney to "provide more appealing high-quality content and entertainment options to meet growing consumer demand; increase its international footprint; and expand its direct-to-consumer offerings."

Some of the "direct-to-consumer offerings" Disney has in the pipeline include ESPN+, and Disney+, along with its continued investment in Hulu.

Here is a specific rundown of what Disney gets in its Fox acquisition:

Twentieth Century Fox

Fox Searchlight Pictures

Fox 2000 Pictures

Fox Family

Fox Animation

Twentieth Century Fox Television

FX Productions

Fox21

FX Networks

National Geographic Partners

Fox Networks Group International

Star India

Fox's interests in Hulu, Tata Sky, and Endemol Shine Group

After the buyout, Fox will still live on, but in a more limited capacity. Fox is creating a spinoff unit that will continue to operate the Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, and the Fox Televisions Stations Group, along with the cable networks FS1, FS2, Fox Deportes, and Big Ten Network.

Even before the Fox buyout, Disney was primed for a massive 2019 with movies alone. The company already released Captain Marvel from its Marvel division, while Avengers: Endgame is coming next month. Some of Disney's other major film releases in 2019 include Dumbo, Aladdin, Lion King, Frozen 2, and Star Wars: Episode IX.