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Disney Sets Official Close Date for Fox Acquisition

Well over year since Disney made its plans for a majority acquisition of 20th Century Fox and the studio has finally announced a closing date for the deal, right down to the minute.

Disney has announced that the acquisition of Fox will "become effective at 12:02 a.m. Eastern time on March 20." Current Fox shareholders have until this Thursday to decide on the amount of cash and Disney stock to receive as part of the $71.3 billion acquisition at a current market value of $38 a share.

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The closing date comes after the Mexican government approved the terms of the acquisition in the last major international hurdle for the deal to move forward within its country. Mexico's approval of the deal had been slowed over concerns of Disney acquiring Fox Sports and several local Fox affiliates, with similar concerns voiced last month by Brazil. As a result, two weeks ago, Disney agreed to sell its stake of Fox Sports in the region over antitrust concerns.

Following the acquisition, the Fox properties not included in the acquisition, including Fox News, will continue on under the rebranded company the Fox Corporation.

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(via Variety)

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