The Walt Disney Company Will Buy 21st Century Fox for $71.3 Billion

We have been covering the acquisition of 21st Century Fox by The Walt Disney Company since it was first announced. At one point, Comcast also made a bid to acquire 21st Century Fox, but they later backed out. Today, after a vote by shareholders on both sides, the deal has been confirmed.

The Walt Disney Company and 21st Century Fox special shareholder meetings were held in their respective offices but at the same time. LaughingPlace.com reported that The Walt Disney Company shareholders approved the deal first and 21st Century Fox shareholders voted next to confirm the deal.

Fox shareholders have voted to approve the merger with Disney. The transaction is expected to close in 2019. https://t.co/PP5x9RnPte

— LaughingPlace.com (@laughing_place) July 27, 2018

Once the vote was held on both sides, it is now official that The Walt Disney Company will purchase 21st Century Fox for a whopping $71.3 Billion. The deal is expected to close sometime in 2019. It’s important to note that the head of Disney, Bob Iger, and the head of 21st Century Fox, Robert Murdoch, were not in attendance at either meeting.

Both the Disney and Fox meetings were very short. The merger was approved by both companies’ shareholders. Disney will buy Fox for $71.3 billion in a deal set to close in 2019. https://t.co/PP5x9RnPte

— LaughingPlace.com (@laughing_place) July 27, 2018

Keep following along with us her at Chip & Co for all the latest on these developments and what that means for the future of both companies moving forward.

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