One Fox Shareholder Is Trying To Stop The Disney Merger

One Fox Shareholder Is Trying To Stop The Disney Merger

With Disney having increased its bid for Fox in order to fend off Comcast, it looked like the proposed merger was well on the way to becoming a reality, but a new lawsuit is looking to put a stop to things. A fox shareholder, Robert Weiss, has filed a lawsuit in Delaware which claims that the financial disclosure material presented to shareholders is incomplete. The suit seeks to enjoin the sale of Fox to Disney unless this information is provided.

Specifically at issue is the lawsuit's claim that the proxy statement filed at the end of June, which recommended that shareholders vote in favor of the upcoming merger, is missing detail concerning projected future earnings for both Hulu, the streaming service which both Disney and Fox had a stake in, as well as European satellite broadcaster Sky. The lawsuit (via The Hollywood Reporter) also claims that financial institution Goldman Sachs, who did the financial valuation analysis, has potential conflicts of interest that have not been fully disclosed.

It seems that Robert Weiss, and the additional shareholders that he represents, aren't looking to necessarily stop the Disney/Fox deal entirely, they're simply looking for additional financial information they feel has been lacking so that they can make an informed decision. If these projections were left out of the documents provided to shareholders, but are available, a simple amended proxy statement could make the suit go away. However, today is actually the day that the Fox board had previously scheduled to meet to discuss the potential purchase options. It's unclear if this lawsuit could cause them to hold off on making a decision.

Disney and Fox agreed to tentative terms for the sale of Fox assets to Disney back in December, and while Comcast attempted to play spoiler by making a larger bid, Disney has since countered with a larger bid of its own. While the word has been that Comcast has gone looking for cash in order to make yet another bid, that has yet to have been formally proposed.

The Disney/Fox deal has already been given regulatory approval by the U.S. government. The only stipulation was that Disney would need to divest the regional sports networks that Fox owns across the country. Disney has agreed to do so. With that decision already made before the Fox board voted it was certainly looking like smooth sailing from here, and while this lawsuit is unlikely to stop the train entirely, it will almost certainly slow things down.

This is also unlikely to be the only lawsuit filed on this topic. A deal this big is certainly going to cause concern from many corners of the entertainment and business world. Big things will certainly happen once this deal is complete, but it could still be some time before we get there.






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Instead Of A Sequel, The Greatest Showman May Head To Broadway

Instead Of A Sequel, The Greatest Showman May Head To Broadway

The end of 2017 saw two movies absolutely crush at the box office, especially compared to their relatively small budgets. Both The Greatest Showman and Jumanji: Welcome to the Jungle made a lot of money for their respective studios, but while a sequel for the latter has already been greenlighted, we haven't heard a peep about The Greatest Showman 2. Now, reports indicate that the studio isn't looking to tell more about the life of P.T. Barnum (the flick got through most of the juicy parts, anyway, and added plenty of flair, including an affair with Jenny Lind.) Instead, The Greatest Showman may be setting its sights on Broadway for the next chapter.

This week, there's been a lot of news coming out of the Cannes Film Festival, but one of the most intriguing bits of information should be this info about The Greatest Showman. Rumor has it a potential Broadway project was in the works when the songs for The Greatest Showman were being written and the movie was coming together, but the folks at Twentieth Century Fox weren't sure the gamble would pay off in box office returns. Currently The Greatest Showman's soundtrack is still a big hit in the U.K. and elsewhere, and per the Sun, a Broadway stint is being fast-tracked over something different like The Greatest Showman 2. The potential for this sort of deal doesn't come as a huge surprise, as The Greatest Showman director Michael Gracey has previously said he thinks a musical would be a great idea.

While reviews were middling for the movie, it was certainly a crowd pleaser around the Christmas holidays, and went on to earn more than $431 million worldwide at the end of last year and during the early weeks of 2018. One of the main reasons the movie did so well was the music, which included original songs like "This is Me," "The Greatest Show," and "A Million Dreams," among others. A musical version of The Greatest Showman would already have that enticing music built in, and it wouldn't be a huge shock to hear that might be the next step for the movie to make, especially considering that the movie covers a lot of ground in regards to P.T. Barnum's life.

Lots of questions still remain. Would members of the cast come back for a Broadway run? (Especially Keala Settle, whose background is the theater anyway.) The reports indicate director Michael Gracey and even the likes of Hugh Jackman may be involved with a potential Broadway run, if it moves forward. If a musical is made, would it be super similar to the movie? Would new original songs be incorporated? We'll let you know as soon as any plans are finalized on those fronts.

For now, The Greatest Showman is already out on Blu-ray, DVD and Digital, and you can order a copy of the flick, here. In addition, the rollicking soundtrack is also around to brighten up your day.






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