Fox-Disney merger taking place next week

With Mexico, the so-called ‘big hold up’ giving their OK today, the Fox and Disney merger has forged ahead with the deal expected to close March 20.

According to Deadline, ‘The date was included in a release in which Disney indicated that the company has received the last major approval for the deal from regulators in Mexico. According to Disney, 21st Century Fox shareholders will have until Thursday to choose the amount of cash and Disney stock to receive in the $71.3 billion transaction.

Disney said the acquisition is expected to become effective at 12:02 a.m. Eastern Time on March 20, 2019. 21st Century Fox shareholders will receive a mix of cash and stock valued at $38 a share in the deal.

The $71.3 billion price increased considerably from the $52.4 billion Fox had originally accepted in December 2017. Comcast, whose CEO, Brian Roberts, has never forgotten having his unsolicited offer for Disney spurned back in 2004, forced Disney to raise its bid when it came in with a higher offer for Fox. At the same time they were jockeying over the Fox assets, the companies were also battling for European pay-TV giant Sky, with Comcast ultimately prevailing in a $40 billion consolation prize once it bowed out of the Fox bidding.’

After Disney take ownership of Fox, they’ll be the new home of such properties as “Alien”, “Predator”, “Home Alone”, “Avatar”, “Speed” and “Planet of the Apes” (See more on that here).

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