Fox and Disney shareholders approve deal

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21st Century Fox shareholders approved the sale of the entertainment assets to Walt Disney Co, both companies said on Friday.
The special meetings of the shareholders of both groups to vote on the USD 71.3 deal were held separately at the New York Hilton and according to Variety they lasted less than 15 minutes. The purchase of Fox assets by Disney includes the movies studios, pay TV businesses and a stake in Hulu, among others.
“Combining the 21CF businesses with Disney and establishing new ‘Fox’ will unlock significant value for our shareholders,” said Rupert Murdoch, Executive Chairman of 21st Century Fox.
In turn, Robert Iger, Chairman and Chief Executive Officer of The Walt Disney Company commented: “We’re incredibly pleased that shareholders of both companies have granted approval for us to move forward, and are confident in our ability to create significant long-term value through this acquisition of Fox’s premier assets.”
Last June, Disney received the approval of the Justice Department’s antitrust division to move forward with the deal, subject to Disney selling 22 regional sports networks now owned by Fox.
Fox and Disney had reached an agreement in December 2017 for USD 52.4 billion. On June 13, Comcast revealed an offer of USD 65 billion. The Mickey Mouse company responded with an offer of USD 71.3 billion.