Disney and Fox shareholders approve $71.3B merger

Fox’s entertainment assets, including The Simpsons, will soon become part of Disney.


The Simpsons

The
Disney
and
Fox
union has moved one step closer to completion.

Fox shareholders on Friday approved the sale of its entertainment assets to Disney for $71.3 billion, reported Bloomberg. Both companies’ investors reportedly approved in separate votes at the New York Hilton Midtown in Manhattan.

Fox agreed to Disney’s bid earlier in June and rejected Comcast’s $65 million cash offer. 21st Century Fox is home to popular franchises such as
X-Men
,
Deadpool
, The Simpsons, Ice Age and Planet of the Apes. Disney could benefit from Fox’s entertainment portfolio.

Comcast dropped out of the bidding war for Fox last week and moved on to UK broadcaster Sky.

Disney has reportedly received clearance from the US Justice Department to buy the Fox assets, but it still needs approval from the Federal Communications Commission.

“Combining the 21CF businesses with Disney and establishing new ‘Fox’ will unlock significant value for our shareholders,” Rupert Murdoch, executive chairman of Fox, said in a release. “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.”

Source link


Leave a Reply

Subscribe to our newsletter

Join our monthly newsletter and never miss out on new stories and promotions.
Techhnews will use the information you provide on this form to be in touch with you and to provide updates and marketing.

You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at newsletter@techhnews.com. We will treat your information with respect.

%d bloggers like this: