Fox to Vote on Potential Merger with Disney on July 10

By Mei Manuel, June 02, 2018 04:06 AM

21st Century Fox(Youtube/Screenshot)

On Wednesday, 21st Century Fox has announced that it will be holding a special meeting on July 10th for its stockholders to vote on the proposed emrger with Walt Disney Company and discuss other concerns regarding the company's future such as the proposal of Comcast Corp's to purchase some of Fox's assets. 

Last week, Comcast announced that they were preparing a higher, all-cash offer for Fox's media assets but some sources say that it will only be processed if a federal judge will rule next month that it will allow AT&T's planned $85 billion acquisition of Time Warner Inc.

The special meeting date comes after Comcast said that Fox and its shareholders should not rush into approving the Disney deal by going public with its plans of a "superior" offer.

In December, Disney offered stock then worth $52.4 billion to buy Fox's film, television and international businesses to strengthen its offerings against Netflix and Amazon Prime. A regulatory filing done in April showed that Comcast had offered to purchase Fox's assets at an all stock deal valued at $34.41 per share or $64 billion last November before Disney's offer was accepted by both companies.

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