The sports networks include the YES Network in New York, Prime Ticket and Fox Sports West in Los Angeles, and networks that carry 44 professional teams in Major League Baseball, the National Basketball Association and the NHL.
Iger also told Wall Street watchers that acquiring Fox's film and TV studio, the National Geographic and FX cable channels business, regional sports networks, worldwide networks and Fox's 30 percent stake in Hulu and its 39 percent stake in European pay TV giant Sky will allow Disney to accelerate its push to offering content direct to consumers.
Disney's global footprint also expands with the acquisition of Fox's worldwide satellite assets, including Star TV network in India and a stake in European pay-TV provider Sky Plc.
The deal was said to have appealed to 21st Century Fox as they look to streamline their operation and focus on selected television properties including Fox News, Fox Sports and all local news affiliates in addition to their broadcast network.
The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's most important global news and film conglomerates. Rumors have been circulating for quite some time now, but in the end, Disney was the only company left at the table.
For Disney, the acquisition of 21st Century Fox is a key moment in a pivot towards streaming premium content directly into people's living rooms.
Speaking on Fox Business Thursday morning, Murdoch said he made it a condition of the deal that Iger would stay on.
It would also be seen as a big move for Disney CEO Robert Iger who has his own reputation for making headstrong bets.
"The acquisition of this stellar collection of businesses from 21st Century Fox reflects the increasing consumer demand for a rich diversity of entertainment experiences that are more compelling, accessible and convenient than ever before", Iger said in a statement. With the acquisition of Fox, Disney's stake in Hulu will grow to be a controlling one. Just as well, the deal needs to be approved by regulators in the USA and overseas, given the global reach this buy out will give Disney. This gives us the ability to marry the great content of Fox with the great content of Disney.
"And during that period of time, he and I will continue to discuss whether there is a role for him here or not".