Written by Ollie C.
According to Deadline, the Disney-Fox merger decision was made in about 10 minutes and 99 percent of shareholders co-signed with only a single person objecting saying that Disney was spending too much money.
Initially, Disney offered Fox $54 billion, but Comcast submitted a much larger counter offer before subsequently bowing out of the competition, leaving Disney with a $71.3 billion deal.
Gerson Zweifach, general counsel of 21st Century Fox, told Fox shareholders the merger is expected to be completed in the first half of 2019. He hailed the deal as a "transformative transaction that will enable us to unlock significant value for our stockholders."
Some of the assets now owned by Disney will include the 20th Century Fox studio, FX Networks, National Geographic Partners, and other entertainment assets. After the sale, Rupert Murdoch and Lachlan Murdoch will head the company now dubbed New Fox, which will comprise Fox Broadcasting Co. and Fox’s TV station group, Fox Sports and Fox News.
Bob Iger stated "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. We remain grateful to Rupert Murdoch and to the rest of the 21st Century Fox board for entrusting us with the future of these extraordinary businesses, and look forward to welcoming 21st Century Fox’s stellar talent to Disney and ultimately integrating our businesses to provide consumers around the world with more appealing content and entertainment options."
What are you most excited for as regards the Disney-Fox Merger? Do you want to see the X-Men join the MCU full time? Let us know in the comments!
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