Fox shareholders approve Walt Disney’s $71 bn deal

Disney was forced to sweeten its offer last month after Comcast made a $66bn bid

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.com

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.com

 

Twenty-First Century Fox said on Friday its shareholders voted to approve Walt Disney’s $71 billion purchase of its film and television assets.

Results were announced at a special shareholders’ meeting held in New York.

Disney was forced to sweeten its offer last month after Comcast, the largest US cable company, made a $66 billion 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. com.

Reuters