Bloomberg reports that Comcast has dropped out of the bidding war for 21st Century Fox to focus on the acquisition of European pay tv channel Sky instead. This means that Disney can go ahead and the acquisition of 21st Century Fox has no real hurdles to overcome anymore. The deal already has US antitrust approval, Disney merely needs to sell off some of the local Fox sports networks, which Disney has already agreed to do. It’s most likely only a matter of time now until most of the Marvel characters and all the distribution rights for Star Wars are under one roof, pending shareholder approval. The separate Disney and Fox shareholder meetings are supposed to be held on July 27th.
Things are looking better and better for the acquisition of 21st Century Fox by Disney. Today the Department of Justice has approved the deal under the condition that Disney sells off 22 of the regional FOX sports networks, which Disney promptly agreed to do (Disney also owns ESPN). Rival Comcast will have an even harder time now, since the 21st Century Fox board believes that a deal with Comcast might be blocked, which is why they are fully committed to the Disney offer.
The Walt Disney Company and 21st Century Fox stockholders will both vote on the merger of the two companies on July 10th, as reported by Forbes. Some major shifts in the US entertainment industry are happening at the moment. And whoever doesn’t find someone to buy or merge with may well be left behind in the long run. The AT&T and Time Warner merger was just approved the other day. That leaves Comcast, they don’t have much time left to snatch Fox away from Disney. The boards of both Disney and Fox have already agreed on the merger. That leaves the stockholders. Their votes will decide. Would you like the Disney & Fox merger to go through? Disney would finally have the distribution rights for all of the Star Wars movies.
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