They can do whatever they want movie wise. They probably aren't going to get rid of Fox, they'll just own it too. Disney can release Deadpool or even a porn of Wolverine butt raping Storm, as long as it's under the Fox label.
That's why I'm harping on the Disney label of the streaming service. They're fine doing Daredevil, as long as it's released under the Netflix label.
If they want, they can keep the X-Men universe under the Fox label, have it be separate from the MCU and go R rated as often as they want. Don't forget that Disney owned Miramax when Pulp Fiction was released.