From Disney’s official announcement, here are the major deal points.

First, here’s what Disney won’t get:

• 21st Century Fox to spin off Fox Broadcasting network and stations, Fox News, Fox Business, FS1, FS2 and Big Ten Network to its shareholders.

So no Fox News and Sports, that’ll spin off into a new entity.

And what Disney will get:

• Acquisition complements and enhances The Walt Disney Company’s ability to provide consumers around the world with more appealing content and entertainment options
• Transaction to include 21st Century Fox’s film and television studios, cable entertainment networks and international TV businesses
• Popular entertainment properties including X-Men, Avatar, The Simpsons, FX Networks and National Geographic to join Disney’s portfolio
• Expands Disney’s direct-to-consumer offerings with addition of 21st Century Fox’s entertainment content, capabilities in the Americas, Europe and Asia; Hulu stake becomes a controlling interest
• Addition of extensive international properties, including Star in India and Fox’s 39% ownership of Sky across Europe, enhances Disney’s position as a truly global entertainment company with world-class offerings in key regions
• Robert A. Iger to remain Chairman and CEO of The Walt Disney Company through 2021

Lots of value there. Notably, Disney gets The Simpsons, which is currently a big part of the Universal Studios Florida theme park, an obvious competitor. It will be interesting to see how this shakes out. Does the Fox / Universal deal have an expiration date? A buyout clause? Will the Simpsons make their way to Disney theme parks?

Another big deal: Disney will have a controlling interest in Hulu. That is no small thing.

Interesting times.