Shareholders approve Disney's purchase of most of 21st Century Fox

Disney and Fox shareholders approve blockbuster $71-billion deal

This morning the shareholders of the Walt Disney Company voted to approve the purchase of most of 21st Century Fox.

Disney received approval from the Department of Justice for its historic acquisition a year ago, putting to bed any fears of government intervention in the corporate mega-merger.

Media mogul Rupert Murdoch will continue to run a slimmed-down "new Fox" focusing on Fox News, the Fox broadcasting network and several sports operations. The historic Disney Fox deal will see the House of Mouse acquire the 20th Century Fox film and TV studio, Fox's entertainment cable networks, and its global assets. It kicked off a bidding war with Comcast, which dropped out last week focus on attempted buyout of the European pay-TV operator Sky.

The big media-entertainment firms are pursuing deals as they seek to slow the rise of streaming media platforms like Netflix and Amazon, and prepare for the entry into the sector by Silicon Valley giants like Google and Facebook.

Disney's Acquisition of Fox Approved by shareholders from Disney and 21st Century Fox approved Disney acquisition of Fox.

"I'd like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company", Roberts said in a statement at the time. Disney, which already owns the Lucasfilm, Marvel and Pixar franchises, has been trying to buy Fox since last December. This single Fox deal is 4.5x the size of those three companies combined.

In the deal, The Walt Disney Company will acquire significant portions of 21st Century Fox, including the 20th Century Fox film and TV studios, the Fox cable TV networks and various global assets. As a result, current 21st Century Fox stockholders will own a 17-20% stake in New Disney on a pro forma basis.

Regulators in the U.S. have already approved the plan, but it still needs the go-ahead in many other countries.

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