Because movies take so long to complete and release, running a Hollywood studio typically means planning two to three years into the future.

But just one year from now, Twentieth Century Fox may no longer exist.

That makes it an awkward time for the 2,300 employees of the 83-year-old studio behind “Deadpool 2” and “The Greatest Showman” as they wait to see if Walt Disney Co. receives the foreign regulatory approvals it needs to complete its purchase of most of the assets of parent company 21st Century Fox Inc., which could happen next year.

Unlike its sibling television studio, Fox’s movie studio is expected to be significantly downsized once the deal is complete. Disney will likely take over Fox’s two biggest film franchises, Avatar and the X-Men, and scale back production of costly movies that don’t fit its family-friendly, franchise-focused formula, people close to both companies have said.

Until the deal is done, however, Fox is obligated to keep acting as if it will survive, people who work at the studio say, which means making movies and developing new ideas with no certainty as to what Disney will end up doing with them.