Disney's £50bn takeover of Fox to become official next week

Disney's £50bn takeover of Fox to become official next week

Disney's announcement highlighted that 21 Century Fox shareholders will have until Thursday to choose the amount of cash and Disney stock to receive from the transaction.

Mexico's Federal Telecommunications Institute (IFT) has become the latest and final regulator to approve Disney's United States dollars 73.1 billion merger with the assets of 21st Century Fox, albeit with conditions, including the requirement to sell Fox Sports channels.

The update suggests that the deal has received final approval from regulators.

The acquisition will officially take effect March 20, 2019 and 12:02am Eastern Time. Almost $20 billion more than the amount they had initially offered. However, Comcast began a bidding war that raised the purchase price to $71.3 billion in cash and stock.

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While the news is cause for celebration for those who have been waiting a long time to see the X-Men and Fantastic Four be a part of the MCU, we must not forget about the number of jobs that will be lost in this very big merger. It added that with no extension, the full acquisition or turnover will be effective at exactly 12:02 a.m. Reports say that up to 4,000 employees, working in a variety of positions at the studio, could lose their jobs. The Election Form and Letter of Transmittal necessary for stockholders (holding common stock as of December 19) to choose the form of consideration they wish to receive was mailed on December 27.

Disney has already said it would bring over several key Fox executives to run important operations, including Walt Disney Television.

Superhero fans have been excited at the prospect of the acquisition opening the door for characters previously owned by Fox to become part of Marvel Studios and its wide-ranging cinematic universe.

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