Fox And Disney Set A Date To Vote On Their Massive $71 Billion Deal

Entertainment Writer
06.28.18

Fox

After initially planning for its board to vote on July 10th, Fox once again has set a date for a potential vote to approve the gigantic offer made by Disney for the company. Both companies will hold separate shareholder meetings on July 27th to finalize the deal according to Variety, citing dual 10 a.m. meetings scheduled disclosed in recent SEC filings.

And while it seems like a done deal, there is the possibility that Comcast could attempt to strike again according to Variety:

Setting the shareholder vote puts a timeline in place for Comcast to respond with another bid, should the cable giant decide to continue its pursuit of Fox. Comcast declined to comment…

The July 27 vote could conceivably be postponed again if Comcast comes forward with a sizable bid that requires more study and negotiations on the part of Fox’s board. But Disney has been moving forward as if the deal is a fait accompli given that Fox’s board has twice voted unanimously to endorse Disney’s offers. Disney also has the right to match any rival offers for Fox, which also advantages Disney in the high-stakes battle for the Fox assets that both companies see as vital to their ability to launch global direct-to-consumer streaming platforms in the future.

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