Shareholders Approve Of Disney & Fox’s Merger

For the past few months we have been hearing about Disney’s attempt to acquire Fox. At some point it looked like the deal could have fallen apart as Comcast threw in a bid of their own, which Disney later countered. Turns out that the new figure offered by Disney was good enough because shareholders of both Disney and Fox have since approved the merger.

Of course this is just one of the hurdles that both companies need to overcome before the deal can be finalized. The deal is also said to have been approved by the US Department of Justice with some caveats, namely how Disney would need to divest itself of Fox’s regional sports networks.

The deal would also still need to be approved by the FCC before it can be finalized, so they aren’t completely out of the woods yet. Comcast has also recently officially withdrawn its bid where they also congratulated Disney on the upcoming merger. Exactly when it will all be finalized remains to be seen, but safe to say that there are huge implications that will be a result of this merger.

According to Rupert Murdoch, executive chairman of Fox, “Combining the 21CF businesses with Disney and establishing new ‘Fox’ will unlock significant value for our shareholders. With [all of our executives and colleagues’] help, we expect the enlarged Disney and new ‘Fox’ companies will be pre-eminent in the entertainment and media industries.”

Tyler Lee
Categories: General
Tags: Disney, Entertainment, fox