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Why 'surprisingly'? Disney owns 20% of Regency....Surprisingly, Disney has decided to renew their pact with Arnon Milchan's New Regency studio. It was set to expire next year.
New Regency, which was housed at 20th Century Fox before being absorbed into Disney in 2019 via the big studio merger, has re-upped a long-term global theatrical distribution deal with the Burbank …deadline.com
In September 1997, Milchan signed a 15-year distribution pact with 20th Century Fox worldwide in all media outside of foreign television rights, ending a previous association with Warner Bros. (1991–1999). Fox's parent company News Corporation (now Walt Disney Studios) funneled $200 million in New Regency, in exchange for a 20% stake in the company. In 2011, Fox and New Regency extended the pact, to expire in 2022.
On May 21, 2008, they hired Hutch Parker as co-chairman of the studio. He left the post on January 11, 2012.
The Walt Disney Company inherited Fox's stake in Regency Enterprises and New Regency Productions after Disney acquired 21st Century Fox's assets on March 20, 2019. After Disney dropped the “Fox” name from the studio's 20th Century Fox and Fox Searchlight Pictures branding and the two studios were renamed 20th Century Studios and Searchlight Pictures, respectively on January 17, 2020, Regency Enterprises transferred to Walt Disney Studios, in exchange for a 20% stake in the parent company.