Shareholders Approve $71.3 Billion Disney/Fox Acquisition – Won’t Finalize Until Mid-2019
Shareholders of 21st Century Fox have approved [via THR] the massive $71.3 billion deal. Things started moving quickly once Comcast dropped their competing bid.
Walt Disney and 21st Century Fox shareholders on Friday voted in favor of a $71.3 billion deal, in which Disney will acquire large parts of Fox, including the 20th Century Fox film and TV studios, Fox’s entertainment cable networks and its international assets.
The portion of Fox that Disney proposed to purchase includes the TV and movie studios, Star India, FX, Nat Geo, Fox’s 30 percent stake in Hulu and Fox’s 39 percent stake in Sky, the European pay TV company that Comcast is looking to acquire.
Last month, the U.S. Justice Department blessed the merger on the condition that the Fox Sports Regional Networks be sold rather than go to Disney, but more reviews from other agencies are still required.
There is a still a huge amount of red-tape internationally that has to be ironed out before anything serious can happen.
For those thinking that X-Men and Fantastic Four projects are going to get rushed into theatres or given cameos in MCU movies next year might be setting themselves up for disappointment. However, they seemingly will now have access to them for Phase Four. Kevin Feige has yet to announce the entire Phase Four release slate and have been suggested it wouldn’t be revealed until after Avengers 4.
Wolverine is said to be the main character Marvel Studios wants to get into the film and is the current priority.
Disney also says the deal won’t finalize until around June-July of next year.