Fox Corporation (FOXA)

[mick]

part two/ Neither Disney CEO Robert Iger nor Fox Executive Co-Chairman Rupert Murdoch was in attendance at Friday's respective meetings.

By Annlee Ellingson – Staff Writer, L.A. Biz
Jul 27, 2018, 8:00am

https://www.bizjournals.com/losangeles/news/2018/07/27/fox-disney-shareholders-approve-blockbuster-merger.html?ana=yahoo&yptr=yahoo

The vote was scheduled to take place earlier this month but was delayed when Comcast Corp. (NASDAQ: CMCSA) entered the fray.

In December 2017, Disney (NYSE: DIS) offered $52 billion in stock for the Twentieth Century Fox Film and Television studios, along with the New York media conglomerate’s cable and international TV businesses.

Then last month Comcast, in the wake of a federal court’s ruling that AT&T could go ahead and acquire Time Warner Inc. for $85 billion, Comcast threw its hat in the ring for Fox’s assets with a $65 billion offer.

Disney then upped its bid to $71 billion, ultimately pushing Comcast out of the race.

The U.S. Department of Justice has already approved Disney’s bid, provided the studio divests Fox’s 22 regional sports networks, but it still needs to gain regulatory approval in more than a dozen global markets. The deal is expected to close next year.

Fox will spin off a portfolio of news, sports and broadcast businesses to create a “new Fox” centered on live news and sports brands, anchored by the Fox Network.

Meanwhile, Fox, Comcast and Disney are also entangled in a bidding war for European pay-television provider Sky plc.





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