**In our best Rafiki voice** It is time. After first announcing its intent to acquire 21st Century Fox in December 2017, the Walt Disney Co.’s merger with Fox is finally complete.

“This is an extraordinary and historic moment for us — one that will create significant long-term value for our company and our shareholders,” says Robert A. Iger, chairman and CEO of Disney. “Combining Disney’s and 21st Century Fox’s wealth of creative content and proven talent creates the preeminent global entertainment company, well positioned to lead in an incredibly dynamic and transformative era.”

As of today, Disney owns 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family, and Fox Animation; Fox’s television creative units, Twentieth Century Fox Television, FX Productions, and Fox21; FX Networks; National Geographic Partners; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Tata Sky, and Endemol Shine Group. Disney and 21st Century Fox entered into a consent decree with the U.S. Department of Justice last year under which Disney will divest 21st Century Fox’s Regional Sports Networks.

Yesterday, Fox completed the spin-off of a portfolio of 21st Century Fox’s news, sports, and broadcast businesses — including the Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes, and Big Ten Network, and certain other assets and liabilities — into Fox Corp.

Whew.

What does this merger mean for fans and audiences? Disney says now it will be able to provide more appealing high-quality content and entertainment options to meet growing consumer demand; increase its international footprint; and expand its direct-to-consumer offerings, including ESPN+ for sports fans and its highly anticipated Disney+ streaming service launching in late 2019.

Photo: Disney