Disney and Fox shareholders approve blockbuster $71-billion deal [LA Times]

Disney and Fox shareholders approve blockbuster $71-billion deal [LA Times]

By Meg James

July 27, 2018 | Walt Disney Co. and 21st Century Fox Inc. shareholders on Friday overwhelmingly approved Disney’s proposed $71.3-billion takeover of much of Rupert Murdoch’s 21st Century Fox — a milestone in a merger that is expected to dramatically reshape the entertainment industry.

The deal’s contours began to form nearly a year ago over wine between Disney Chief Executive Bob Iger and Murdoch at the elder mogul’s Moraga vineyard above Bel-Air. Friday’s vote was more official: The two companies held separate shareholder meetings concurrently in the same Hilton hotel a couple of blocks from Fox’s headquarters in midtown Manhattan.

Read more on LA Times.

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