Disney, Fox shareholders approve transaction

The shareholders of media companies Disney and 21st Century Fox have voted to approve the former’s deal to acquire a host of Fox assets.

Fox general counsel Gerson Zweifach said that the transaction is likely to be completed in the first half of next year, although regulators in more than a dozen countries still need to give their approval.

Last month, Disney tabled an improved $70.4bn (€61bn) takeover offer for a significant share of Fox’s business assets. The amended transaction agreement marked a considerable increase on the $52.4bn deal sealed with Fox in December 2017 and came after Comcast submitted a counter-bid of $65bn.

The deal will give Disney control of media company Star India, as well as 22 regional sports networks, among other assets.

Comcast will still compete with Disney for ultimate control of Sky, a major pay-television broadcaster of sports programming in the UK, Germany, Italy and Austria.