After months of wrangling and finalization, it becomes official tonight at 12:02AM: Disney will own 20th Century Fox. Per Variety:

Disney is poised to close the $71.3 billion deal that took many twists and turns last year shortly after 9 p.m. PT on Tuesday. The birth of the Murdochs’ successor Fox Corporation — home of Fox Broadcasting, Fox News and Fox Sports — will also be official on Tuesday.

Disney’s purchase of the Fox movie and TV studios will have huge ramifications on the wider Hollywood industry. Yes, some properties that were previously at Fox — like the X-Men and the Fantastic Four — now are back under the Marvel umbrella at Disney, and we could see those characters join the Marvel Cinematic Universe down the line. Disney could make a Die Hard ride at Disneyland now, or an Alien versus Predator stage show. (The kids would love that!) But also many people are going to lose their jobs. A giant studio with a massive history is going away — at least in the form we currently know.

So get ready. Big changes are coming. We won’t know for a while exactly what they are right away. But after tonight at midnight the movie world will never be the same again.