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US: Fox sets date for vote on US$52b Disney deal

By  |  May 30, 2018

On Wednesday, May 30, 21st Century Fox announced that it would hold a shareholders meeting on July 10 to debate a merger with the Walt Disney Company, after Disney offered to buy Fox’s film, television, and international businesses for US$52.4 million in stock last December.

The announcement puts pressure on Comcast, which has expressed interest in buying most of Fox’s media assets but has not yet made a competing offer. In order to delay the deal, Comcast announced last week that they were preparing a higher, all-cash offering.

Disney in December offered stock then worth US$52.4 billion to buy Fox’s film, television and international businesses to beef up its offering against streaming rivals Netflix  and Amazon.com.

A regulatory filing in April showed Comcast offered to buy most of Fox’s assets in an all-stock deal valued at US$34.41 per share, or US$64 billion, last November, just before Disney’s offer was agreed upon.

Full Content: Reuters

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