There has been some back-and-forth for months with Comcast continually upping their offer in hopes of coming out ahead, but Disney has taken it. On Friday morning, the shareholders of Fox and Disney voted in favor of Disney acquiring a lot of Fox’s assets for $71.3 billion.
Since last year, Disney and Comcast have been going back and forth in an effort to take over the majority stake of 21st Century Fox. With each new bid, the other company would offer more, but Disney finally went to a point that was too high for Comcast to reach.
In this deal, Disney is going to acquire the movie and TV studios from Fox along with Star India, FX, Nat Geo, the 39 percent ownership of Sky, 30 percent ownership of Hulu.
Comcast had fired back earlier this year with an offer of $65 billion cash which beat out Disney’s previous offer of $52.4 billion which was primarily stock. After that, Disney came in with the $71.3 billion offer and has now won out.
At the shareholders meeting in New York, Disney’s side approved the deal in 11 minutes while the shareholders at Fox approved it in eight minutes.
A few things to take note of with this merger:
- Disney now owns the rights to every and all Star Wars film – Fox had still owned an interest to Star Wars: A New Hope, but that is now with Disney entirely
- Disney now owns the rights to other Marvel film properties such as X-Men, Deadpool, X-Force, and Fantastic Four
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