Disney's Acquisition of Fox Approved by Shareholders

Disney's Acquisition of Fox Approved by Shareholders

Disney's Acquisition of Fox Approved by Shareholders

Disney's and Fox's special shareholder meetings on the deal took place at New York Hilton Midtown hotel.

Shares of Fox were down slightly, by 0.3 percent to $45.25 in afternoon trading, while Disney shares were down 0.7 percent to $112.70.

IMAX CEO Richard Gelfond provides insight into Disney's $71 billion deal for 21st Century Fox entertainment assets.

Upon completion, a new Fox will emerge focused on broadcast TV, sports and the Fox News Channel.

Only time will tell how Disney plans to make use of Fox's assets, but based on the former's acquisitions of other major entertainment studios, significant changes could be coming to the way Fox does business in the future.

Late past year, Disney revealed its multi-billion dollar plans to buy the majority of Fox's assets, films, and TV shows. Regardless, neither company was swayed by this argument, and the transaction is set to complete sometime in the first half of 2019.

The two companies continue to vie for satellite broadcaster Sky.

How do you feel about the Disney and Fox merger?

Disney was able to clear regulatory and anti-competitive pressure by agreeing to sell-off Fox's local sports affiliates so don't worry NFL fans, no bouncing mouse animations on your Sunday afternoon football games.

Via CNBC, the long-awaited Disney and Fox deal has already received conditional approval from the government as well, but it won't be an instantaneous merger. During a brief question and answer period, one said Disney overpaid by as much as US$10 billion.

Nearly like the takeover of a football club, the ongoing saga between Disney and 21st Century Fox has dragged on for a while now. The doubling of Disney's Hulu shares (making it the majority owner, with 60 percent) comes as Disney is preparing the launch of its own streaming platform to compete with Netflix and other giants in the streaming space.

In addition, the company said in a recent filing it may need consent from regulators in 14 countries and the European Union.

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