Fox sets date for shareholder vote on Disney bid

Fox has set a date for a shareholder vote on July 10 to determine the US$52 billion (€45 billion) sale of 21st Century Fox assets to Disney.

The move arrives one week after Comcast announced that it is prepared to outbid Disney with an all-cash offer.

Fox has said that it could postpone the meeting should Comcast come forward with a formal offer. “21CF may postpone or adjourn the special meeting of its stockholders to allow reasonable additional time for the filing, mailing, dissemination and review by its stockholders of any such disclosure prior to the special meeting,” the company said in a statement.

Comcast is likely to be waiting on a US judge’s ruling on AT&T’s proposed takeover of Time Warner, which is due June 12. The Trump administration has sought to block the deal on grounds that it is non-competitive.

In the meantime, Fox has advised its shareholders to vote in favour of the Disney proposal.

Should the merger go through, Disney would gain a range of Fox’s entertainment assets including its entertainment networks, movie studios, television production and international assets.

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