Shareholders Approve Disney's $71.3B Acquisition of Fox as Deal Enters Final Stages

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One week after Comcast officially bowed out of the bidding war for 21st Century Fox's entertainment assets by ceding to Disney, shareholders of both Fox and Disney have today approved Disney's $71.3 billion acquisition offer for Fox (via The Wall Street Journal).

At two separate gatherings this morning in Manhattan, both company's shareholders were said to have "voiced their support" for the acquisition in brief meetings that lasted less than 15 minutes.


There are still a few hurdles before Disney officially acquires 21st Century Fox's entertainment assets, mostly related to approval from overseas entities. Specifically, Disney is waiting for the European Union and China to grant approval for the acquisition, as well as "more than a dozen" other international territories.

Still, with the United States Justice Department approving the acquisition last month (with one condition for Disney) and now the shareholders voting to approve, it's believed Disney's acquisition of Fox will be done by early 2019.

News of Disney's interest in Fox dates back to last December when Disney initially announced its bid to acquire Fox for $52.4 billion in stock. Comcast entered with its own $65 million cash offer for Fox's assets, leading to Disney's increased $71.3 billion cash and stock bid in June. At the time that it bowed out of the running for Fox, Comcast CEO Brian L. Roberts congratulated Disney and its CEO Bob Iger and commended the Murdoch family and Fox "for creating such a desirable and respected company."

Disney's plans for Fox line up with its intent to launch a streaming service in late 2019, showcasing a lineup of content from Walt Disney Animation Studios, Marvel, Pixar, Star Wars, and likely a back catalog of films and TV shows owned by Fox, further enticing customers to sign up. Under the agreement Disney will acquire Fox assets including Twentieth Century Fox Film and Television Studios, Fox-related cable and international TV businesses, Fox's 30 percent stake in Hulu, the film rights to the X-Men and Avatar franchises, and more.

Disney has already launched its first streaming service in the form of ESPN+ this past spring, granting subscribers access to live sports, original shows and films, studio programs, and an on-demand library of content. Ahead of the debut of its main streaming service a little of a year from now, Disney has warned Netflix users that it will begin removing its TV shows and films from Netflix before its own platform launches.

New Disney-owned movies have still appeared on Netflix at a decent rate this year -- including Star Wars: The Last Jedi, Coco, and Thor: Ragnarok -- but a few have begun to disappear, including the impending removal of Pixar's Finding Dory in August.

A Disney streaming service filled with Fox content will be a direct competitor to Apple's upcoming streaming service, also believed to see a launch at some point in 2019. Apple's partners in the original TV content space include Oprah Winfrey, M. Night Shyamalan, J.J. Abrams, Kumail Nanjiani, and more.

Article Link: Shareholders Approve Disney's $71.3B Acquisition of Fox as Deal Enters Final Stages
 

BWhaler

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Jan 8, 2003
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The only good I can see from this is now maybe Disney can release the original Star Wars movies without all the Lucas digital butchering through the years.
 

MacNut

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The only good I can see from this is now maybe Disney can release the original Star Wars movies without all the Lucas digital butchering through the years.
Would not be shocked if Lucas destroyed all of the original masters.
 

rpmurray

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China ought to take this chance to withhold approval unless Disney agrees not to make any content critical of the Chinese government, any former, current or future Chinese leaders, the Chinese people, China as a country, or anything related to Chine both past and present and into the future.
 
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agsystems

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The only good I can see from this is now maybe Disney can release the original Star Wars movies without all the Lucas digital butchering through the years.
don't know about the releasing unmodified versions - what we will definitely get are 4k versions of the remaining stars movie - so far only the POS Last Jedi has been released in 4K.
 
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Kabeyun

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The only good I can see from this is now maybe Disney can release the original Star Wars movies without all the Lucas digital butchering through the years.
Why would they do that? Because we want it? And what does buying Fox have to do with it, since they’ve owned Lucasfilm for almost six years?
 

EdT

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The only good I can see from this is now maybe Disney can release the original Star Wars movies without all the Lucas digital butchering through the years.
More people have grown up with the altered versions than with the original theatre releases. For them the altered versions ARE the real ones.
 

EdT

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Fortunately, monopolies are always beneficial and don’t end up as self serving money centric businesses that don’t care because being a monopoly means that they don’t have to.
 

EdT

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So you ignore racism, homophobia and hate speech and choose to be annoyed by PC?? :rolleyes::rolleyes:
Disney is not Snow White when it comes to racism and sexism:

https://www.cartoonbrew.com/artist-rights/people-are-questioning-disneys-inconsistent-values-james-gunn-was-fired-over-tweets-john-lasseter-is-still-employed-162146.html


https://www.cartoonbrew.com/artist-rights/female-disney-exec-didnt-realize-part-job-description-groped-john-lasseter-155073.html
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China ought to take this chance to withhold approval unless Disney agrees not to make any content critical of the Chinese government, any former, current or future Chinese leaders, the Chinese people, China as a country, or anything related to Chine both past and present and into the future.
????

Why would we care how Disney portrays the Chinese government?

Especially for family/animation. China is such a big market that I don’t think if you had videos of China killing acres of puppies that Disney or any other entertainment company would say a word because their product would be banned from distribution. And it wouldn’t require a formal document that could be used against either side.
 
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m0sher

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One word MONOPOLY

Just wow, the special interest on what huge mergers are allowed or not that are aligned to current political preference.
 

fairuz

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One word MONOPOLY

Just wow, the special interest on what huge mergers are allowed or not that are aligned to current political preference.
I don't think there can really be a monopoly on movies. People watch stuff if it's good and watch nothing if it's not*. As for news, that's one thing the US has always had a hands-off policy on. Except somehow we have NPR.

* I guess they've been wanting crappy superhero movies for the past several years, unless you count Incredibles.
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More people have grown up with the altered versions than with the original theatre releases. For them the altered versions ARE the real ones.
Not gonna lie, I have no idea what anyone is talking about with these "real versions" or why it matters whether Han shot first. It's not like the storyline is deep enough to deserve all this nitpicking. I watched only the Special Edition ones on VHS, and I only remember one CGI thing looking really out of place, otherwise great movies.
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From a Content standpoint, Disney is just too PC, and just too proud of their offerings. they have many pieces of content I refuse to buy, rent,or even watch (Looking at you ESPN) over their cost and PC stands. Shareholders win, we all lose.
By "PC" you mean "politically correct," right? Unless the old Looney Tunes comes back (would be awesome but never gonna happen), the family-friendly genre is clean. It takes skill to make that and have it actually be good, and Disney does the best job.
 
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EdT

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Not gonna lie, I have no idea what anyone is talking about with these "real versions" or why it matters whether Han shot first. It's not like the storyline is deep enough to deserve all this nitpicking. I watched only the Special Edition ones on VHS, and I only remember one CGI thing looking really out of place, otherwise great movies.
Most fantasy stories aren’t terribly complex when it comes to storylines but there is nothing wrong with a simple story that is well told.

As far as altering storylines, I’m not sure what your age is or what movies or shows you like, but for example let’s pick Harry Potter. Imagine first the movies exactly as they are. Now imagine that 4 or 5 years from now they re-edit and reshoot the 2nd movie, Chamber of Secrets, so that it blatantly and unambiguously tells you the outcome of the final movie. More or less, that’s what happens in Empire Strikes Back and Return of the Jedi. The big reveal that occurred in Empire is wiped out, as far as dramatic effect goes. That’s what upsets people who’ve seen the unadulterated versions. It significantly changes the story, simple as that story may be.
 

arkmannj

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Oct 1, 2003
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So... is Firefly (& Serenity) one of the IP's Disney would now own?
If so, I wonder if Disney would have any more interest than Fox had in making more quality content in the Firefly universe.
 

fairuz

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Aug 27, 2017
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Most fantasy stories aren’t terribly complex when it comes to storylines but there is nothing wrong with a simple story that is well told.

As far as altering storylines, I’m not sure what your age is or what movies or shows you like, but for example let’s pick Harry Potter. Imagine first the movies exactly as they are. Now imagine that 4 or 5 years from now they re-edit and reshoot the 2nd movie, Chamber of Secrets, so that it blatantly and unambiguously tells you the outcome of the final movie. More or less, that’s what happens in Empire Strikes Back and Return of the Jedi. The big reveal that occurred in Empire is wiped out, as far as dramatic effect goes. That’s what upsets people who’ve seen the unadulterated versions. It significantly changes the story, simple as that story may be.
Thing is, if they rereleased the Harry Potter movies, which I did watch as they came out while I was growing up, I wouldn't watch them again because I already saw them. So I wouldn't mind.

Better example is Star Trek since the only thing I'm a fan of is Star Trek ToS, and I don't mind that they've redone Star Trek in ways that actually change the old characters, even though I don't like the new ones very much. At worst just disappointed that the new movies aren't good enough that I want to go see them.

I'm actually not sure which reveal you're referring to in Star Wars. Asked a friend who knows a lot about movies, and he didn't know about it.
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China ought to take this chance to withhold approval unless Disney agrees not to make any content critical of the Chinese government, any former, current or future Chinese leaders, the Chinese people, China as a country, or anything related to Chine both past and present and into the future.
What does this have to do with China? I think Mulan was pretty positive ;)
 
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