Shareholders from Fox and Disney met up separately to vote on the merger involving both companies. Reports noted that 99% percent of the Disney shareholders voted to approve the acquisition of 21st Century Fox.
According to Variety, only one voter protested Disney purchasing Fox, saying the company was “overpaying for Fox.” In a blockbuster deal, Walt Disney Co. has finalized their plans to purchase a huge chunk of 21st Century Fox for a whopping $52.4 Billion deal.
The company will be purchasing the Murdoch family’s longtime corporation in stock as well as its film and television divisions and its international and cable networks. Their objective is to, reportedly, “meet competition from the technology companies in the entertainment business”, according to the Chicago Tribune.
Before the buyout is complete, 21st Century Fox intends to divide Fox Broadcasting Network, Fox Business Network, and its sports divisions FS1, FS2, and Big Ten Network into a brand-new media company that will be sold to various shareholders. The news became a shock to the entertainment industry as many did not expect that Rupert Murdoch or his sons would ever sell off such a huge amount of their decades old company.
The deal will reportedly be good news to Marvel fans as the deal will give Disney Twentieth Century Fox, Fox Searchlight Pictures, and Fox 2000 which are the longtime homes of the rights to X-Men, Deadpool, and Fantastic Four. The new acquisitions are also not limited Twentieth Century Fox Television, FX Productions, and Fox 21. This means that Disney will also have television shows such as The Simpsons and Modern Family.