Friday, August 03, 2018

Shareholders Approve Disney to Buy Fox Assets

Last week, Walt Disney Co. and 21st Century Fox Inc. shareholders approved the $71.3 billion deal for Disney to acquire Fox's entertainment assets. This approval comes after Comcast dropped its $65 billion bid to focus its efforts on acquiring the European pay-TV company Sky. The two companies were in an aggressive bidding war, but both were in good standing to receive antitrust clearance. Disney has already received antitrust clearance, subject to certain divestiture conditions, and if Comcast had stayed in the running, it likely would not have faced any significant antitrust concerns either.