An acquisition only works if it can be integrated within the parent company and on the premise that a fair price is paid.

Disney shows the pros and cons of acquisition. When Disney purchased Pixar Studios, Marvel Comics and Lucas Films in hindsight they worked out brilliantly. Why because Disney had the infrastructure to scale up a great idea but it was short on ideas. Also, the price they paid for such acquisition were not huge relative to the market cap of Disney.

On the other hand, 20th Century Fox was a mistake. Disney paid such a high price the room for error is minimal if things don't work out it can be catastrophic. Unfortunately in the entertainment industry is " like playing the lottery. When you win, the payoff is huge, but wins are rare and losses common".