It’s happening, it’s finally happening the X-Men, and Fantastic Four is finally back where they belong. After a long a drawn-out process, Disney and Fox’s shareholders overwhelmingly approved the epic merger between the two media giants first proposed last December.
Looks like this year’s mega-blockbuster Infinity War’s run as Marvel Studios most ambitious crossover event is in danger. With the merger’s approval, the possibilities are now endless, and the idea of The Avengers, Fantastic Four and X-Men all together in one film is now a real possibility.
According to Deadline the procedure reportedly only took 10 minutes and that 99% of Disney’s shareholders were onboard except for one person who felt the house the mouse built overpaid in the deal. Disney initially offered $54 Billion, but Comcast’s counteroffer (now pulled) forced the company to respond with a $71.3 billion bid.
Fox states a majority of its shareholders agreed as well but said they will keep the final tally close to its chest adding it will be revealed in an SEC filing coming at the end of the day. Along with film and TV studio assets, Disney will also acquire cable networks FX, National Geographic plus a 30% stake in the Hulu streaming service.
In a statement 21st Century Fox’s Executive Chairman, Rupert Murdoch had this to say about the deal:
“Combining the 21CF businesses with Disney and establishing new ‘Fox’ will unlock significant value for our shareholders. We are grateful to our shareholders for approving this transaction. I want to thank all of our executives and colleagues for their enormous contributions in building 21st Century Fox over the past decades. With their help, we expect the enlarged Disney and new ‘Fox’ companies will be pre-eminent in the entertainment and media industries.”
Disney’s chairman and CEO Bob Iger added:
“We’re incredibly pleased that shareholders of both companies have granted approval for us to move forward, and are confident in our ability to create significant long-term value through this acquisition of Fox’s premier assets. We remain grateful to Rupert Murdoch and to the rest of the 21st Century Fox board for entrusting us with the future of these extraordinary businesses, and look forward to welcoming 21st Century Fox’s stellar talent to Disney and ultimately integrating our businesses to provide consumers around the world with more appealing content and entertainment options.”
Despite the deal being done, Deadline points out there are still some “regulatory hoops” the two companies must overcome. The most significant hurdle has been cleared, paving the way for the deal to be finalized completely. So bring on those much needed X-Men and Fantastic Four movies that need Marvel Studios magic touch.
Photo: Albert L. Ortega / Getty