Just after midnight EDT on Wednesday, Disney completed their acquisition of 21st Century Fox.

The acquisition follows months of negotiations and competitive offers. Now, for the price of $71.3 billion, Disney owns 21st Century Fox.

The massive deal comes at a turning point in the home entertainment industry. Disney has been fighting tooth and nail for a place in the new world of digitally-streamed home entertainment. It was this urge that caused Disney to part ways with Netflix and emerge as a competitor to the latter. Disney has also taken steps with the ESPN+ streaming service. For their part, Disney plans on launching the Disney+ streaming service later this year.

With the help of this huge acquisition, Disney will be in a much better place and gain more leverage going forward. What Disney really just did is acquire tens of billions worth of intellectual property to draw on for future content. If Disney continues making moves like this and making moves like their investments into Hulu’s streaming service, they could create an even greater future for the company.