That deal was almost derailed by Comcast as a rival suitor for Fox, but Comcast's recent surrender paved the way for Disney's final victory. Disney will reportedly purchase a number of Fox's assets - including Fox News and Fox Business for $38/£28 a share. I want to thank all of our executives and colleagues for their enormous contributions in building 21st Century Fox over the past decades.
The two companies continue to vie for satellite broadcaster Sky.
Disney had faced competition from United States cable giant Comcast for the Fox assets, but Comcast retreated after Disney raised its bid last month.
21st Century will keep Fox News, Fox Sports and the Fox broadcasting network as a separate company. As a result, current 21st Century Fox stockholders will own a 17-20% stake in New Disney on a pro forma basis.More news: Trump set to raise tariffs on China to $500B
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With the deal wrapped up, Disney will take over ownership of Fox's Twentieth Century Fox film and TV studios, as well as certain cable and global television businesses, according to the companies' joint merger proposal to shareholders. And fanboys can rejoice in Marvel properties, such as the X-Men and Fantastic Four being in a position to join the MCU. The proposals included the adoption by 21st Century Fox stockholders of the merger agreement with Disney (the "Disney Merger Agreement") and the distribution merger agreement for the spin-off of new "Fox". The combined company is expected to have a near stranglehold on the box office. During a brief question and answer period, one said Disney overpaid by as much as US$10 billion.
Disney has received clearance to buy the Fox assets from the U.S. Justice Department, but was also awaiting the approval of the Federal Communications Commission.
Friday's votes end a lengthy drama over the Fox assets, and solidify Disney's status as an even bigger Hollywood powerhouse.
Disney still needs deal approval from more than a dozen countries, including China, Russia and regulators from the European Union.