Disney to Take Over 21st Century Fox on March 20

Lloyd Doyle
March 15, 2019

The company also agreed to sell a 50 percent stake in A+E Networks in Europe and to separate licensing and provision between Disney's A&E, History, H2 and Lifetime networks and Fox's National Geographic and Nat Geo Wild channels. "Eastern Time on March 20, 2019, subject to the satisfaction or waiver of the conditions to the consummation of the Acquisition set forth in the documentation governing such transaction".

Under the acquisition agreement, 21st Century Fox stockholders may elect to receive US$38 per share in either cash or shares of "New Disney", the holding company that will own both Disney and 21st Century Fox following the acquisition. Last summer, US antitrust regulators approved the deal but stipulated that Disney must sell Fox's 22 regional sports networks, including Prime Ticket and Fox Sports West in Los Angeles.

The Walt Disney Company and 21st Century Fox announced today that they expect Disney's 21st Century Fox acquisition to become effective at 12:02 a.m. "I'd like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company", he said.

Adam Bankhurst is a news writer for IGN who offered $20 for 21st Century Fox but was turned down, sadly.

In recent weeks, Disney has been stitching up the final regulatory approvals from Latin American countries, including Brazil and Mexico.

It's been a very busy year for Walt Disney Studios' Alan Horn.

On the downside, the merging of the two leading entertainment firms in Hollywood will lead to massive layoffs. And even after it is all said and done, it will still be a while before Fox's properties can fall under the Disney umbrella. The Fox executives will report to Disney Studios Chairman Alan Horn.

Other reports by Iphone Fresh

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