20th Century Home Entertainment (also known as 20th Century Studios Home Entertainment) is a home video label of Walt Disney Studios Home Entertainment that releases films produced by 20th Century Studios, Searchlight Pictures, and 20th Century Animation, and television series by 20th Television, Searchlight Television, and 20th Television Animation in home entertainment formats. Founded in 1976, it served as its own distinct home video distribution arm of Fox Entertainment Group. On March 20, 2019, The Walt Disney Company acquired 21st Century Fox, and as a result, 20th Century Home Entertainment's operations were folded into Disney's own home entertainment division. It now operates as a label of Walt Disney Studios Home Entertainment and also releases titles from other third-party studios it has prior distribution deals with. History Magnetic Video Magnetic Video Corporation was established by the co-founder Andre Blay, an American film producer in 1968 with Leon Nicholson and was based in Farmington Hills, Michigan. In 1977, it became the first corporation to release theatrical motion pictures onto Betamax and VHS videocassette for consumer use. (Cartridge Television, Inc. preceded it in 1972 when it introduced the Avco Cartrivision home VCR with a line of major motion pictures available for rent on the Cartrivision videocassette format. Cartrivision went off the market thirteen months after its debut.) Magnetic Video is notable for its contribution to the birth of the modern-day home video empire and the birth of video rental systems. In the fall of 1977, Blay came up with the idea to release pre-recorded motion pictures on videocassette. That year, he convinced 20th Century Fox, which was then in financial difficulty, to license fifty of their films for home video release in VHS and Betamax formats. Blay also established the Video Club of America in order to sell the titles directly to consumers by mail. That same year, George Atkinson bought one Betamax and one VHS copy of each of the first 50 movie titles from Magnetic Video that were then being sold to the public and established the Video Station rental company from a storefront in Los Angeles. He charged $50 for an "annual membership" and $100 for a "lifetime membership," which provided the opportunity to rent the videos for $10 a day. This and similar video stores were a success, and Magnetic Video took off, adding titles from the following companies in the next four years, in addition to continuing to