Disney and Fox shareholders approve $71.3B merger

Disney and Fox shareholders approve $71.3B merger

For full details, read the entire breakdown from The Walt Disney Company.

The Department of Justice had already given its conditional approval of the merger, provided Disney divest Fox's regional sports networks, but there was still one major roadblock for the companies - the shareholders.

That means two of the biggest film and television companies in the world will be merging to create what will by far and large be the biggest film and television company in the world.

Fox and Disney had originally agreed on a $54.2 billion all-stock deal before Comcast's unsolicited bid. It's all a bit confusing, to be honest, but where there's money involved.

Disney's and Fox's shareholders held their meetings on the deal at the New York Hilton Midtown hotel, voting on their approval of the $71.3 billion deal within eight minutes of meeting, according to The Hollywood Reporter.

"Ultimately, we pulled back because we thought that we couldn't build enough shareholder value by making the price at which it seemed, in our judgment, to be possible to buy that, which was increasing", the exec said on Comcast's second-quarter earnings conference call in response to an analyst question.

Trump says the Russians 'definitely don't want' his reelection
The indictment alleges that the Russians broke into Democratic email accounts and tried to penetrate state election systems. Recall, July 16, in Helsinki behind closed doors had an official meeting Donald trump and Vladimir Putin .

Disney and Fox expect the purchase to be finalized by mid-2019.

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 Inc and Amazon.com Inc.

Disney Chief Executive Officer Robert Iger now must turn his attention to the deal's many loose ends - to consummate the merger and prepare his company for life afterward.

21st Century Fox Inc. shareholders approved the sale of the company's entertainment assets to Walt Disney Co.

Disney now own Marvel, Pixar, Lucasfilm and Fox, pending a review by global regulators. Disney will acquire 21st Century Fox immediately following the spin-off of the businesses comprising "New Fox" as previously announced.

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