In a bid to blow up the DisneyFox deal 21st Century Fox has scheduled a shareholder meeting to decide if they’ll consider Comcast’s bid or accept Disney’s offer.
Late last year Disney and Fox announced they had agreed to sell most of Fox’s assets to Disney for or $52.4 billion. This includes the film rights to many popular comic book characters like the X-Men.
But since then Comcast has stepped in to try and outbid the studio. In a story that has taken more twists and turns than any Marvel crossover story Variety reports that 21st Century Fox has scheduled a meeting for the shareholders. Variety reports that this meeting could decide the fate of the deal.
“Shareholders in 21st Century Fox will get their chance to determine whether the company sells the bulk of its assets to Walt Disney or instead considers a potential offer for the vaunted properties from Comcast Corp.”
They add:
“Fox intends to convene a July 10 investor meeting to vote on a $52.4 billion agreement to sell Fox assets like FX and the 20th Century Fox studio to Disney, Fox said Wednesday. The move sets in motion a potential showdown between the California entertainment titan and the Philadelphia cable giant for a passel of Fox assets that would aid either company in an ongoing battle to stay competitive in an era when new streaming-video companies like Netflix and Amazon are pulling more of the industry’s strings.”
There are also reports that Disney is considering sweetening their deal
There are huge implications here. If Comcast buys Fox assets they’ll be able to produce movies based on some of the most popular characters in the marvel universe like Wolverine and the X-Men. But if Disney buys the assets they’ll be able to add the remaining characters in their slate to the Marvel Cinematic Universe (MCU).
While this is merely a meeting to “consider” the Comcast proposal it’s clearly an opportunity to end the Comcast deal or leave them in play. Even if the shareholders vote to consider the ComcastFox deal they could still decide to take Disney’s deal.
Either way, I’ve never been so excited for a shareholder meeting in my life.
What do you think of the deal? Do you want Disney to buy Fox or Comcast?
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