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Comcast CEO Brian Roberts is running out of time.
Now that 21st Century Fox shareholders are ready to vote on Walt Disney's offer on what Roberts will do next. Fox's special meeting of shareholders is scheduled for July 27 at 10 am at the New York Hilton in downtown Manhattan, Disney said in a regulatory filing, adding that its shareholders would also review the deal.
Disney got the antitrust approval Wednesday, the US Department of Justice gives it another advantage over Comcast, which is also vying for assets. Last week, Fox's board of directors accepted Disney's softened offer for a series of media properties ranging from "The Simpsons" to "X-Men", preferring its offer to the company. Comcast interest for the second time.
Rupert Murdoch Class A and B shareholders each have the same voting rights.
Fox first agreed in December to sell the assets to Disney as part of a $ 52.4 billion deal, disregarding Comcast's interests. mainly because of the concerns of the cable TV company would have more difficulty in obtaining regulatory approval. Comcast responded with a $ 65 billion offer, before Disney softened its proposal to include money and shares.
The strength of Disney's motto and its more fluid regulation make Fox's board of directors "easier" without risking compromising their fiduciary duty to shareholders, said MoffettNathanson's analysts last week. "A Comcast offer for Fox carries a lot more regulatory risk than a Disney offer," they say.
Roberts said he was expecting the Department of Justice to review his proposed buyout plan at the same speed as Disney. . And because Comcast has less presence outside the United States, the company expects to be able to easily obtain international customs clearance. It should also not need a review by the Federal Communications Commission, said Comcast
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