Merger Agreement Disney Fox
Several Fox investors said they would be open to terminating the company`s contract with Disney if Comcast has imposed plans to launch a competing all-cash offer for $60 billion. Murdoch`s family trust controlled 39% of Fox because it held shares with special voting rights. However, according to the company`s evidence, these special rights did not apply to a vote on the Disney/Fox deal, while the Murdoch Trust Fund controlled only 17% of the vote, allowing other shareholders to defeat it, which was expected next month.  Later that month, it was confirmed that Lachlan Murdoch would take over the new Fox Company in place of James Murdoch.  Jeff Bock, of Exhibitor Relations, said he hoped the merger would force creativity at other studios like Paramount, which could focus on smaller-budget movies, knowing they couldn`t compete with Walt Disney (after the Fox acquisition) when it came to making Big Budget blockbusters.  In response to the Disney Fox agreement, KeyBanc Capital Markets Inc. analyst Andy Hargreaves lowered Fox`s stock without an overweight price target to Sector Weight. Hargreaves stated that while the merger is positive for both companies, it carries a high risk of cartels and abuse of dominance, as Disney represents a potential share of the theatre`s revenue, its share in domestic cable facilities, its strong position in the sport and its power to impose already preferred transactions with cable, satellite and theatre owners.   $2.6 billion more due to supply comcast tax charges. The family`s exact stake in Disney after the deal will not be completed until the official conclusion, but at the current share price – which is remarkably close to the date on which the proposed merger was finalized – they will still be the largest shareholder in the new company.
The $71.3 billion purchase of Disney`s assets from 21st Century Fox, the company behind it, from alien movies to the Simpsons, is one of the biggest media mergers of all time. It is also the first time that a major film studio simply no longer exists as an independent entity since the disintegration of MGM in the 1980s, increasing the number of major movie studios in Hollywood from six to five (Disney, Warner Bros,, Sony, Universal and Paramount). On May 6, 2020, the Brazilian antitrust authority CADE authorized the merger of Fox Sports Brazil and ESPN Brasil. under the conditions that require Disney to maintain Fox Sports Brazil until January 1, 2022, when the channel`s operation is expected to be included in ESPN. Meanwhile, ESPN and Fox Sports share the rights to broadcast sports events.  InvestorPlace contributor Ian Bezek questioned the underlying rationale for the merger and asked why Disney should acquire Fox`s production and wiring business at such a “high” price, since Disney is already in good health in both industries: NEW YORK, June 20, 2018 /PRNewswire/ — Twenty-First Century Fox, Inc. (“21CF”) (NASDAQ: FOXA, FOX) announced today that it has entered into an amended and amended merger agreement with The Walt Disney Company (“Disney”) (NYSE: DIS), under which Disney declares itself to be on loan to acquire, at a price of $38 per 21CF share, the same transactions that Disney acquired under the previously announced merger agreement between 21CF and Disney (the “merger agreement”) This price represents a significant increase from the purchase price of approximately $US 28 per share included in Disney`s merger agreement when it was announced in December 2017. The amended and revised Disney merger agreement provides a set of reflections, flexibility and improvements to the security of agreements, which is superior to Comcast Corporation`s june 13, 2018 proposal. On February 12, 2019, Bob Iger met with Brazilian antitrust authority CADE to discuss the Disney-Fox agreement.