Fox Shareholder Files Lawsuit To Halt Proposed Disney Acquisition


Just when you thought Disney had wrapped things up with its huge $71.3 billion bid for 20th Century Fox, The Hollywood Reporter brings word of another speedbump.

Only this time, it’s not Comcast standing in the Mouse House’s way, but a shareholder named Robert Weiss, who recently filed a lawsuit to stop the historic Disney-Fox merger.

Leading a number of other Fox shareholders, Weiss contends that a proxy statement filed on June 28th “omits or misrepresents the company’s financial projections and any fundamental data valuation analyses from Goldman Sachs and Centerview Partners.” The complaint also mentions concern over the apparent lack of disclosure relating to any potential conflicts of interest with Goldman Sachs.

Those missing projections can be traced back to Hulu, along with earnings estimates for the European broadcaster Sky. If true, this would be in violation of security rules and may well block – or at the very least stall – Disney’s acquisition of 20th Century Fox and its precious entertainment assets.

Comic book assets like X-Men, Fantastic Four and Deadpool have undoubtedly sparked interest online, though Marvel Studios president Kevin Feige recently went on record to state that, for the moment, he only has vague ideas when it comes to integrating Fox’s mutants into the Marvel Cinematic Universe.

That’s just as well, too, as it’s becoming increasingly clear that this historic deal is far from being finished. Last we reported, 20th Century Fox had accepted Disney‘s $71.3 billion bid ($38 per share) over the $65 billion offer tabled by Comcast. The latter media giant is yet to respond with a counter-offer, though it’s seemingly in the pipeline.

But what say you? Will the latest development bring a halt to proceedings? Or is it just another bump in the road? You can, as always, chime in with your thoughts via the usual place.