Fox sets date on Disney Merger
(CNBC): Yesterday FOX announced that they have set a date to vote on Disney’s deal to buy FOX. This vote will happen on July 10, and FOX will give stockholders an opportunity to voice their opinions on the proposed merger with the Walt Disney Company.
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With this proposed merger, Disney will get ownership of 20th-Century Fox movie and television studio, FOX’s 22 regional sports channels, cable channels including FX and National Geographic, and FOX’s portfolio of international operations, including a fast-growing pay-TV service in India. The deal will also give Disney 60% ownership of Hulu.
The deal does not include FOX News, the FOX broadcast network, television stations and FOX Sports 1 and FOX Sports 2. Newspapers such as the Wall Street Journal, New York Post, Times of Londonand a portfolio of Australian properties are housed in a second company, News Corp.
The deal still needs to be approved before it can be official and many are speculating the DOJ may request some parts of Disney or FOX be sold off before the deal is approved. Yet getting stockholder approval will be a huge step in getting the merger approved.
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