"Fox" will be dropped from the studios' name with near immediate effect. Variety reports that Disney will be dropping the "Fox" name of 20th Century Fox, a name in the Hollywood Industry since 1935, to simple "20th Century Studios." Fox Searchlight Pictures is also getting the fox-less rebranding of simply "Searchlight Pictures." Variety goes on to say that "those logos won’t be dramatically altered, just updated. The most notable change is that the word “Fox” has been removed from the logo marks. Otherwise, the signature elements — swirling klieg lights, monolith, triumphal fanfare — will remain the same."
No word on what, if any, changes will be made to 20th Century Fox Television and Fox 21 Television Studios names. However changes are already being made internally with e-mail addresses already switching to the new names, and new movies poster's and logos are being upgraded currently.
Variety also learned that Disney and Peter Chernin are ending Chernin Entertainment’s long-standing film production deal with 20th Century Fox.
“I have nothing but praise for Disney,” Chernin told Variety. “They were gracious, classy and paved the way for me to continue to build the company however we want.”
Chernin Entertainment’s most recent films have been financial disappointments. The Kristen Stewart thriller, and Central Coast local director, William Eubank's “Underwater,” debuted with only $7 million domestic opening weekend, and the animated comedy “Spies in Disguise” has grossed a only $116.7 million to date.
Disney’s $71.3 billion purchase of 21st Century Fox in March 2019 included the 20th Century Fox film and TV studios, but not the Fox broadcast network or Fox News. Change to the name was seen as "inevitable" to help close the confusion on the name branding.
Variety also notes that "Disney chief Bob Iger saw his compensation for 2019 drop to $47.5 million, a 28% decline from his 2018 pay package."
"Disney’s leader earned $3 million in salary and a $21.8 million bonus, plus another $10 million in stock awards and $9.6 million in stock options, Disney disclosed in the company’s annual proxy filing with the Securities and Exchange Commission filing on Friday. The $47.5 million total includes the current market value of options and stock awards that won’t be paid out for some time and thus could lose value."