Fox shareholders to vote on Disney deal in July


Twenty-First Century Fox (21CF) announced that it has scheduled a shareholder meeting on July 10 to vote on Disney merger agreement. 21CF’s board of directors recommends that stockholders vote in favor of the proposal.
21CF said that is aware of the press release of Comcast of May 23, 2018, in which the U.S. operator states that “it is considering, and is in advanced stages of preparing, an offer for the businesses of Fox that Fox has agreed to sell to Disney.”
In its statement, 21CF said that it could postpone the meeting in case it is necessary. “21CF may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting,” the company said.
According to local media, Comcast would make a cash offer for around 60 billion. The agreement with Disney was announced in December last year for USD 52.4 billion and includes the movie studios, international pay TV businesses, including Latin America, and the stake in Hulu, among others. In this way, Comcast would have to make its proposal before July 10. The leading U.S operator would be waiting to make a formal offer until after the decision of the Justice on AT&T-Time Warner.