Fox shareholders approve Walt Disney’s $71 billion deal

July 27, 2018

By Sheila Dang

NEW YORK (Reuters) – Twenty-First Century Fox Inc <FOXA.O> said on Friday its shareholders voted to approve Walt Disney Co’s <DIS.N> $71 billion purchase of its film and television assets.

Results were announced at a special shareholders’ meeting held in New York.

Disney was forced to sweeten its offer last month after Comcast Corp <CMCSA.O>, the largest U.S. cable company, made a $66 billion bid for Fox’s well-known TV shows and movie franchises, including the “X-Men” and “The Simpsons.”

The bidding between Comcast and Disney was part of a bigger battle in the entertainment industry as media companies spend tens of billions of dollars on deals to compete with Netflix Inc <NFLX.O> and Inc <AMZN.O>.

(Reporting by Sheila Dang; Editing by Dan Grebler)

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July 27, 2018 at 08:05PM
from One America News Network