Disney & Fox’s Shareholders Agree to $71.3 Billion Deal | THR News

Disney & Fox’s Shareholders Agree to $71.3 Billion Deal | THR News


Walt Disney and 21st Century Fox shareholders voted on Friday in favor of the $71.3 billion deal, in which Disney will acquire large parts of Fox, including the 20th Century Fox film and TV studios, Fox’s entertainment cable networks and its international assets. The portion of Fox that Disney proposed to purchase includes the TV and movie studios, Star India, FX, Nat Geo, Fox’s 30 percent stake in Hulu and Fox’s 39 percent stake in Sky, the European pay TV company that Comcast is looking to purchase. The way was cleared for Disney to buy the Fox assets after rival Comcast dropped its own $65 billion bid for the Fox assets. But Comcast, led by chairman and CEO Brian Roberts, remains in the lead in the hunt for Sky, having submitted a raised $34 billion offer to prevail over a rival bid from Fox. Disney originally offered $52.4 billion in stock for the Fox assets but Comcast topped that with $65 billion in cash before Disney again upped its bid to $71.3 billion. Disney recently gained regulatory approval for its Fox deal. Last month, the U.S. Justice Department blessed the merger on the condition that the Fox Sports Regional Networks be sold rather than go to Disney, but more reviews from other agencies are still required. What Disney did not purchase is for now known as “New Fox” and includes the broadcast network, Fox News Channel, Fox Business Network, FS1 and FS2. Disney chairman and CEO Bob Iger said, For more on this story, head to THR.com. For The Hollywood Reporter News, I’m Tiffany Taylor.

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