Fox shareholders approve sale of assets to Walt Disney in a $71 billion deal.
Fox shares were down about 0,3 percent in afternoon trading on Friday, while Disney shares were down 0,8 percent.
(Reuters)- Twenty-First Century Fox announced on Friday that its shareholders have approved Disney's purchase of its film and television assets for $71 billion.
The result was from the extraordinary assembly in New York.
Fox shares were down about 0,3 percent in afternoon trading on Friday, while Disney shares were down 0,8 percent.
Disney was forced to raise its offer last month after Comcast, the largest cable company in the US, offered $66 billion for Fox's well-known TV programs and film franchises, including "X-Men" and "The Simpsons".
The dispute between Comcast and Disney is part of a larger battle in the entertainment industry, as media companies spend tens of billions of dollars on deals to compete with Netflix and Amazon.com.
Last week, Comcast divested itself of Fox's film and television studios, cable TV networks, and international television operations.
Disney's cash and stock offer has received approval from US regulators. In an agreement with the US Department of Justice, Disney, owner of the ESPN sports network, said it will divest 22 of Fox's regional sports networks.
By Sheila Dang