Disney and 21st Century Fox Announce Preliminary Election Results in Connection with Acquisition
March 15 2019 - 5:02PM
Dow Jones News
By Stephen Nakrosis
The Walt Disney Company (DIS) and Twenty-First Century Fox, Inc.
(FOX) announced preliminary results of a vote by Fox shareholders
over the form of consideration they want to receive following the
completion of Disney's acquisition of most of Fox's media
assets.
The companies said holders of 959,919,192 shares of Fox common
stock, about 51.57% of outstanding shares, elected to receive cash,
and holders of 682,198,198 shares, or about 36.65% of outstanding
shares, elected to receive shares of common stock of New
Disney.
The holders of 219,388,371 shares of Fox common stock, about
11.79% of outstanding shares, didn't make an election, the
companies said.
The companies said the final election results may differ from
the preliminary results.
Disney will acquire Fox's movie studio, the FX cable network and
a stake in Hulu that will make it a majority owner of the streaming
service.
Disney and Fox expect the acquisition to take effect at 12:02
a.m. Eastern Time on March 20.
News Corp (NWS), owner of Dow Jones and Co. Inc., publisher of
this newswire, shares common ownership with 21st Century Fox.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
March 15, 2019 16:47 ET (20:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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