Disney and Fox shareholders approve blockbuster $71-billion deal

Walt Disney Co. and 21st Century Fox Inc. shareholders on Friday overwhelmingly approved Disney’s proposed $71.3-billion takeover of much of Rupert Murdoch’s 21st Century Fox — a milestone in a merger that is expected to dramatically reshape the entertainment industry. The deal’s contours began to form nearly a year ago over wine between Disney Chief Executive Bob Iger and Murdoch at the Fox executive chairman’s Moraga vineyard above Bel-Air. Friday’s vote was more official: The two companies held separate shareholder meetings concurrently in the same Hilton hotel a couple of blocks from Fox’s headquarters in midtown Manhattan. -- More...