21st Century Fox shareholders approve Walt Disney’s $71bn deal
Disney’s cash and stock offer has already received approval from US regulators
New York — 21st Century Fox said on Friday that its shareholders voted to approve Walt Disney’s $71bn purchase of its film and TV assets. Results were announced at a special shareholders’ meeting in New York. Shares of Fox were down slightly by 0.3% to $45.25 in morning trading, while Disney shares were down 0.5% to $112.93. Disney was forced to sweeten its offer last month after Comcast, the largest US cable company, made a $66bn 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 and Amazon. Last week, Comcast dropped its pursuit of Fox’s film and television studios, cable networks and international TV businesses. Disney’s cash and stock offer has already received approval from US regulators. In an agreement with the US department of justice, Disney, which own...
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