Comcast Corp. asked 21st Century Fox Inc. stockholders to vote against Fox's merger agreement with Walt Disney Co. at a special meeting on July 10, according to preliminary proxy statement filed June 13.
Comcast on June 13 formally made an all-cash offer to acquire select Fox media assets for $35 per share in cash, which represents a premium of about 19% to the value of Disney's all-stock offer as of 12 p.m. ET on June 13. Disney and Fox in late 2017 struck a $52.4 billion all-stock deal, with Fox shareholders set to receive 0.2745 Disney share for each Fox share they own. The transaction includes Fox's movie and TV studios, the FX Networks, National Geographic Channel, Fox Networks International and 22 regional sports networks.
Additionally, the pair's agreement would give Disney Fox's stake and a controlling interest in streaming service Hulu LLC.
Comcast also previously made a formal offer for British satellite giant Sky PLC, 39% of which is owned by Fox.