It’s been tossed around for a few months now, but Disney and Fox have made it official: the latter is selling most of their entertainment assets to the former.
This ends the process Disney has been engaging in by bidding for the company’s studios, facing off against rival Comcast who also provided a cash bid, having to up their bid, and finally Comcast withdrawing last week. Fox and Disney shareholders gathered this week to go ahead with the buyout, making Disney the largest film conglomerate in the world.
Both companies expect to complete the asset merger, costing $71.3 billion dollars, or one third of the GDP of Sudan, by the second half of 2019.
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Disney And Fox Vote For Major Buyout Of Assets