Malcolm Owen, Apple Insider:

Announced in July 2018 following a bidding war with Comcast, the acquisition of 21st Century Fox completed early on Wednesday morning.

And:

Alongside ESPN+ and Disney+, Disney also increases its holdings in existing streaming service Hulu, combining Fox’s ownership stake with its own to give it a sizable level of control over the firm.

And:

While Apple has invested significantly into original content production, acquiring more content may be problematic if Disney extends its exclusivity policy to other content producers it operates.

The sheer size of both the firm and its content library will also give Disney more leverage when in negotiations with Apple concerning its online stores, which could allow it to gain more favorable terms for movies and TV shows offered to consumers.

This Disney Fox deal will have repercussions far down the road. Note that Disney CEO Bob Iger is on Apple’s board. At one point, Google Chairman Eric Schmidt was on the Apple board (from 2006-2009). A number of conflicts pushed him off the board.