With Potential Comcast Offer Looming, Fox Sets Date to Vote on Disney Deal

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21st Century Fox
Inc.

FOX -Zero.13%

shareholders will vote July 10 on the corporate’s proposed asset sale to

Walt Disney
Co.

DIS Zero.31%

, doubtlessly giving

Comcast
Corp.

CMCSA Zero.35%

about six weeks to submit its personal bid for the slate of movie studios, cable networks and different leisure companies.

Disney has additionally known as a particular assembly July 10 for shareholders to approve issuing fairness in reference to the $52.four billion all-stock buy.

Comcast mentioned final week that it was in superior levels of making ready a money supply that may high Disney’s deal for Fox’s leisure companies.

On Wednesday, Fox mentioned it might postpone the assembly if Comcast submits a bid or if different occasions require the corporate to ship shareholders info they want further time to evaluation.

The Fox belongings—which vary from worldwide pay-TV distribution to cable networks and a stake in streaming firm Hulu—are among the most-prized leisure properties more likely to come available on the market for a while, and the Murdoch household’s willingness to promote these belongings has come as a shock to many within the media trade.

The uncommon acquisition alternative, mixed with the necessity to considerably broaden abroad and purchase new distribution and content material, is including a dimension of urgency for each Comcast and Disney.

The unique deal between Fox and Disney was introduced in December. In that deal Fox would retain its broadcast, sports activities and information belongings, together with the Fox TV community and Fox Information.

21st Century Fox and Wall Avenue Journal-parent Information Corp share frequent possession.

Write to Austen Hufford at austen.hufford@wsj.com



Supply hyperlink – https://www.wsj.com/articles/with-potential-comcast-offer-looming-fox-sets-date-to-vote-on-disney-deal-1527684347?mod=pls_whats_news_us_business_f

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