Disney, Fox merger set to close March 20

Disney Acquisition of 21st Century Fox to Close on March 20

"Just in: Disney says its acquisition of most of Fox will take effect on Wednesday, March 20", Brian Stelter tweeted.

The acquisition will become effective at 12:02 AM EST on March 20. The Comcast counter-offer of $65 billion prompted Disney to raise its bid to $71.3 billion.

To strengthen its lead in US media and entertainment industry, Disney announced a deal to acquire many parts of 21st Century Fox for a price of 52.4 billion dollars in an offer in December 2017.

The fact that Disney already set the date of turnover on March 20 means that it successfully procured the final authorization requirement from Mexico's telecoms regulator for the purchase of FOX. The country's Federal Telecommunications Institute (IFT) said Tuesday that during its regular session the day before it unanimously voted to approve the tie-up, subject to compliance with conditions that prevent competition risks like the selling off of Fox's regional sports networks.

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Previously, Fox's ownership of the rights to the X-Men and Fantastic Four prevented characters like Wolverine, Professor X and the Human Torch from appearing in the MCU. What's more, Disney will be able to increase its stake in Hulu by half - from 30 to 60 percent.

The combination of the two companies is expected to lead to substantial job losses. For the executives of FOX like Peter Rice, Dana Walden, John Landgraf and Gary Knell, they will join Disney and assume important positions in the company.

Under the acquisition agreement, 21st Century Fox stockholders may elect to receive US$38 per share in either cash or shares of "New Disney", the holding company that will own both Disney and 21st Century Fox following the acquisition.

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