21st Century Fox Inc. scheduled a July 10 meeting for its stockholders to vote on the company's proposed sale of much of its entertainment assets to Walt Disney Co.
Fox's board recommended its shareholders vote in favor of the $52.4 billion all-stock deal struck with Disney in December 2017. Comcast Corp. recently indicated it is preparing a rival cash offer for Fox's assets, but that bid has yet to be received. Fox said its shareholder meeting may be delayed or adjourned as necessary for any new, relevant disclosures that occur before the meeting and require additional time for shareholder review.
Disney offered to buy 21st Century Fox's movie and TV studios, its FX Networks and National Geographic Partners and its 22 regional sports networks. The agreement also would give Disney Fox's stake and a controlling interest in streaming service Hulu LLC.
CNBC reported May 29 that Disney is prepared to offer Fox cash if needed to fight off any competing bid from Comcast.
