Disney’s $71.3B purchase of most of 21st Century Fox has been approved by shareholders of both companies. Shareholder votes for both Disney and Fox were counted in meetings held in New York this morning. The shareholder approval follows the deal being approved by the Department of Justice last month.
There will still be a few more regulatory odds and ends to finish up, but for the most part, this historic deal is sealed. Disney and Fox previously notified shareholders that all transactions related to this deal are expected to be completed within six to twelve months of June 20, 2018, potentially putting Disney in control of all those Fox assets this year.
Disney is picking up most of 21st Century Fox, including Fox’s movie studio. This means the Fox-owned movie rights to X-Men, Deadpool, Fantastic Four, and related characters are headed to Marvel Studios. Marvel boss Kevin Feige may get the “go ahead” to start making plans for those franchises before Christmas.
The main Fox assets that are excluded from the detail are the Fox broadcast network, along with Fox’s national news and sports networks. Disney is picking up Fox’s regional sports cable networks, but must sell them off as a condition of the approval from the Department of Justice. Disney has agreed to that condition.
Disney and Fox continue to move through the major milestones of their deal at an incredible pace. The Marvel Cinematic Universe may be complete much sooner than we thought when this deal was first struck last December. Regardless, the question of the X-Men and Fantastic Four joining the MCU is now far less of an “if” and simply a matter of “when.”