Disney, 21st Century Fox Shareholders Approve $71 Billion Merger

posted by RJ Johnson @rickerthewriter - 

Stockholders with the Walt Disney Co. and 21st Century Fox have given the go-ahead to Disney's massive $71.3 billion acquisition of Fox Entertainment both companies announced today. 

The vote by stockholders come as federal regulators approved the deal between the two media companies. In a statement, 21st Century Fox Executive Chairman Rupert Murdoch said the deal would unlock "significant value" for his shareholders. 

"Combining the (Fox) businesses with Disney and establishing a new Fox will unlock significant value for our shareholders," Murdoch said. "We are grateful to our  shareholders for approving this transaction. With their help, we expect the enlarged Disney and new Fox companies will be pre-eminent in the entertainment and media industries."

Disney's Chairman and Chief Executive Officer Bob Iger said he is looking forward to integrating their business with Fox and give fans around the world "more appealing content and entertainment options."

“We remain grateful to Rupert Murdoch and to the rest of the 21st Century Fox board for entrusting us with the future of these extraordinary businesses, and look forward to welcoming 21st Century Fox’s stellar talent to Disney and ultimately integrating our businesses to provide consumers around the world with more appealing content and entertainment options," Iger said. 

The deal brings several major properties under the Disney umbrella. Some of the assets being acquired by the Mouse House include the 20th Century Fox studio, FX Networks, National Geographic Partners, as well as important intellectual properties like the X-Men, and other popular comic book characters that are an important part of the Marvel universe, which is also owned by Disney. 

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