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

Disney's blockbuster deal for most of 21st Century Fox has been approved by both companies.Shareholders voted ...

Posted: Jul 27, 2018 3:20 PM
Updated: Jul 27, 2018 3:20 PM

Disney's blockbuster deal for most of 21st Century Fox has been approved by both companies.

Shareholders voted Friday to green light Disney's $71.3 billion purchase of the Fox assets. Disney will get Fox's movie studio, which includes franchises like "Avatar" and "X-men," along with cable channels like FX and National Geographic.

Disney also picked up Fox's 22 regional sports networks in the deal, though it agreed last month to sell them as a way to satisfy antitrust concerns from the US government.

Fox will keep Fox News, Fox Sports and the Fox broadcasting network as a separate company.

In a statement, Fox executive chairman Rupert Murdoch said he expects the new, combined company to become "pre-eminent in the entertainment and media industries."

Disney CEO Bob Iger added in a statement that his company is "grateful" to Murdoch and the Fox board "for entrusting us with the future of these extraordinary businesses."

Friday's votes end a lengthy drama over the Fox assets, and solidify Disney's status as an even bigger Hollywood powerhouse. Disney, which already owns the Lucasfilm, Marvel and Pixar franchises, has been trying to buy Fox since last December.

That agreement was briefly cast into doubt earlier this summer when Comcast submitted a dramatic counteroffer for Fox. After Disney upped its offer, Comcast backed down.

The deal still needs to be reviewed by international regulators, and the companies say other "customary closing conditions" are still pending.

Article Comments

West Lafayette
Clear
19° wxIcon
Hi: 44° Lo: 31°
Feels Like: 19°
Kokomo
Clear
20° wxIcon
Hi: 42° Lo: 30°
Feels Like: 20°
Rensselaer
Clear
18° wxIcon
Hi: 41° Lo: 30°
Feels Like: 11°
Fowler
Clear
18° wxIcon
Hi: 42° Lo: 30°
Feels Like: 11°
Williamsport
Clear
22° wxIcon
Hi: 43° Lo: 31°
Feels Like: 22°
Crawfordsville
Clear
19° wxIcon
Hi: 44° Lo: 32°
Feels Like: 19°
Frankfort
Clear
26° wxIcon
Hi: 42° Lo: 30°
Feels Like: 26°
Delphi
Clear
18° wxIcon
Hi: 43° Lo: 30°
Feels Like: 18°
Monticello
Clear
18° wxIcon
Hi: 42° Lo: 30°
Feels Like: 18°
Logansport
Clear
23° wxIcon
Hi: 41° Lo: 29°
Feels Like: 23°
Mild with Rain by Sunday Night
WLFI Radar
WLFI Temps
WLFI Planner

Community Events