The Disney/Fox Merger Is Officially Approved

Disney makes it official: Fox is moving to the mouse house

Disney makes it official: Fox is moving to the mouse house

"Combining the 21CF businesses with Disney and establishing new "Fox" will unlock significant value for our shareholders", Rupert Murdoch, executive chairman of Fox, said in a release.

Results were announced at a special shareholders' meeting in NY. It's expected to close in the first half of next year, according to Fox.

It not only owns Pixar, Marvel, ESPN, A&E, Lucasfilm and a whole binch of other mega companies, but it's just been announced that Disney has been given the green light to spend $71 billion - over £54 billion - to buy Fox. But Disney agreed to sell those separately to help ensure regulatory approval for the merger.

Neither of the two companies' leaders made an appearance.

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Disney (DIS) will get Fox's (FOXA) movie studio, which includes franchises like "Avatar" and "X-men", along with cable channels like FX and National Geographic. Even more positive news came for Disney when Comcast, another company vying for the Fox assets, dropped out of the deal, giving Disney a clear path to global domin - errrr - victory. Let us know in the comment section before Disney acquires us as well!

The U.S. Department of Justice has already approved Disney's acquisition, provided the media and entertainment company divest the 22 regional sports networks it was set to gain in the deal. While Disney is the ultimate victor here, remember their original offer was for $52.4 billion; Comcast ended up costing Disney nearly $20 billion. Those 21st Century Fox assets left out of the Disney acquisition, including Fox News, Fox Sports, and Fox Broadcasting, are being consolidated under a new entity described in pre-merger talks as "New Fox". This gives Disney a majority 60% stake in the streaming service which ties in nicely to rumors circulating that Disney is launching its own streaming service in 2019.

Disney still needs deal approval from more than a dozen countries, including China, Russia and regulators from the European Union.

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