Fox shareholders approve Walt Disney’s $71 bn deal

Disney was forced to sweeten its offer last month after Comcast made a $66bn bid

The bidding between Comcast and Disney was part of a bigger battle in the entertainment industry as media companies spend tens of billions of dollars on deals to compete with Netflix and Amazon.com

Fri Jul 27 2018 - 15:43

Twenty-First Century Fox said on Friday its shareholders voted to approve Walt Disney’s $71 billion purchase of its film and television assets.

Results were announced at a special shareholders’ meeting held in New York.

Disney was forced to sweeten its offer last month after Comcast, the largest US cable company, made a $66 billion bid for Fox's well-known TV shows and movie franchises, including the "X-Men" and "The Simpsons."

The bidding between Comcast and Disney was part of a bigger battle in the entertainment industry as media companies spend tens of billions of dollars on deals to compete with Netflix and Amazon. com.