Marvel Fans React to Disney and Fox Merger Deal Approval

Disney makes it official: Fox is moving to the mouse house

"We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry", said Rupert Murdoch, Executive Chairman of 21st Century Fox.

Gerson Zweifach, general counsel of 21st Century Fox, told Fox shareholders that the merger is expected to be completed in the first half of 2019, Variety reports. Word is there were few comments from investors at Disney and Fox, and the whole process was apparently done in as little as 10 minutes. As a result, current 21st Century Fox stockholders will own a 17-20% stake in New Disney on a pro forma basis.

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Neither of the two companies' leaders made an appearance.

Disney's cash and stock offer has already received approval from USA regulators. But Disney agreed to sell those separately to help ensure regulatory approval for the merger.

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Although Comcast said last week it won't continue bidding for Fox's assets, the Philadelphia-based cable TV giant has the highest offer on the table for British satellite-TV provider Sky Plc at US$34 billion. When the Fox deal closes, Disney will become the majority owner of the video-streaming service. Let us know in the comment section before Disney acquires us as well! After Disney upped its offer, Comcast backed down. Disney expects to pay a total of about $35.7 billion in cash and issue approximately 343 million New Disney shares to 21st Century Fox stockholders. Disney will also now control the rights to such current Fox cinematic franchises as Avatar, Planet of the Apes, Alien, Predator, Die Hard, Kingsman, Ice Age and Night at the Museum. FOX, Fox News, the Regional Sports Networks of Fox, and other asssets are not included in the $71.3 billion purchase.

Disney still needs deal approval from more than a dozen countries, including China, Russia and regulators from the European Union.

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