Now that 21st Century Fox Inc. shareholders have signed off on the $71.3 billion sale of its entertainment assets to Walt Disney Co., some investors are already fretting about the next hurdle: regulatory clearance from China.
Though the Justice Department approved the acquisition last month, Disney is waiting on approvals from more than a dozen global territories, including the European Union and China.
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Geez", he exclaimed. "I don't really race just make to the race entertaining. "But it was my own mistake yesterday. Obviously with crashes and misfortune it didn't happen.
The vote all but seals the lid on a deal that was almost hijacked by Comcast Corp. when CEO Brian Roberts offered Fox $65 billion for the same assets, forcing Disney to up its initial bid to the now $71.3 billion. The doubling of Disney's Hulu shares (making it the majority owner, with 60 percent) comes as Disney is preparing the launch of its own streaming platform to compete with Netflix and other giants in the streaming space.
Fox plans to spin off its news and sports channels, including its flagship Fox News channel, into a newly listed company. Friday's vote was more official: The two companies held separate shareholder meetings concurrently in the same Hilton hotel a couple of blocks from Fox's headquarters in midtown Manhattan.
Disney yet again this year topped the Business Journal's list of top Los Angeles County public companies, as measured by market capitalization, despite a 6 percent market capitalization decline to $155.8 billion, compared to last year's tabulations. 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.
In addition, the company said in a recent filing it may need consent from regulators in 14 countries and the European Union.