"The president spoke with Rupert Murdoch earlier today, congratulated him on the deal and thinks that, to use one of the president's favorite words, that this could be a great thing for jobs," she said.

"And he certainly looks forward to and is hoping to see a lot more of those created."

On conference call with investors this morning, Disney CEO Bob Iger said combined company would have $2 billion in cost synergies, i.e. headcount reduction. https://t.co/TvlC4amX0Y — Alex Weprin (@alexweprin) December 14, 2017

The deal amounts to a massive shakeup in the media landscape, as Disney will take control of properties like FX and Nat Geo, as well as Fox's film properties.

Some of Fox's television properties, including Fox News and Fox Business Network, are not part of the deal.

Trump has been supportive of the Fox News properties during his time in office, tweeting praise about various anchors and television shows on the network. Murdoch also reportedly has the president's ear — The New York Times reported back in August that Murdoch advised Trump to fire then-chief strategist Stephen Bannon.

Now that the ink is dry, it's up to federal regulators to decide whether to let the acquisition go through. The Justice Department is currently suing to block AT&T's merger with Time Warner, arguing that it is not in the consumer's best interest.