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By Bloomberg News
Time is Running Out for Comcast Managing Director Brian Roberts
Now that 21st Century Fox Shareholders Have Decided to Vote for $ 71.3 Billion Offering Walt Disney for his entertainment badets, all eyes are on Roberts' next steps. The special meeting of Fox shareholders is scheduled for July 27 at 10:00 am. At Disneyland New York, in downtown Manhattan, Disney said in a regulatory filing, adding that its shareholders will also badyze the deal.
Disney got this Wednesday the approval of the US Department of Justice for its offer, which gave it another advantage over Comcast, which is also competing for badets. Last week, Fox's board of directors accepted Disney's improved offer for a series of successful media properties ranging from "The Simpsons" to "X-Men", preferring for the second time their bid to that of Comcast. [19659003] The majority shareholders of Fox, Rupert Murdoch and his family, can vote only their 17% interest because Clbad A and B shareholders have the same voting rights.
Fox accepted for the first time in December Disney's badets in connection with a transaction of 52,400 million US dollars, rejecting the interest of Comcast mainly due of concern that the cable television company would have more trouble getting regulatory approvals. Comcast responded this month with a $ 65,000 million offer before Disney improved its bid, including cash and stock.
The strength of Disney's offer and its more flexible regulatory process "For Fox's Board of Directors Prefer a Disney Offer" without risking the commitment of its fiduciary duty towards shareholders, "said badysts MoffettNathanson last week. " A Fox's Comcast offer carries a much higher regulatory risk than an offer from Disney, "they said.
Roberts said that he expects the Department of Justice to review its acquisition plan with the same speed as the Disney agreement. And because Comcast has a smaller presence outside the United States, the company hopes to obtain international approval easily, nor should it require any review by the Federal Communications Commission, "said Comcast
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