This morning Disney and 21st Century Fox shareholders approved the $71.3 billion merger of the two companies, but this is just the beginning of more months of minor hurdles the merger will have to clear before it closes in the first half of 2019.
The meeting actually went pretty quickly since shareholders were voting via proxy for weeks. I was listening to the Disney one and it was pretty much over right after it started as so many votes were already in. What this vote does is lock Disney and Fox into the deal, meaning that no one like Comcast can swoop in with a bigger offer and steal Fox away.
There are still international regulatory hurdles they’ll have to clear as Disney and Fox operate in many countries. The process has already started in Brazil and some feel the EU will be the biggest one to get through.
Despite the vote this morning, this does not mean that Disney owns Fox yet and it doesn’t mean Marvel Studios can use the Fox characters yet. They won’t be able to do that until the deal closes sometime in the first half of 2019.