INSUBCONTINENT EXCLUSIVE:
With Comcast officially out of the way, Disney buyout of 21st Century Fox assets just took another major step toward reality
Shareholders from both mega media companies have approved the $71.3 billion deal
In a lovely bit of classic media performance art, shareholders from both boards took separate meetings at the New York Hilton this morning
to vote on the deal.
In an interview with Variety, Fox general counsel called the deal a ''transformative transaction that will enable us to
unlock significant value for our stockholders.&It also means yet another major bit of major media consolidation among a withering major
movie studio system, but at least the X-Men will get to fight the Avengers, I guess
Some fun bits from these meetings, per Variety again: one shareholder at Disney said the company was overpaying for Fox, while another at
Fox apparently walked up to the mic to say, &Nobody does it like Rupert Murdoch
I love Rupert Murdoch.&
I don''t know
We love who we love, I guess
The deal has been brewing for more than half a year
Back in December, Disney offered up $52.4 billion for assets, including the 20th Century Fox movie studio, the FX network and more
Comcast helped hike up the price with a $65 billion offer back in June, but ultimately pulled out of the race a week or so back
According to the companies, the deal is expected to close in early 2019, pending all of the standard regulatory approval
