In this file photo taken on January 01, 2016, Disney characters wave from Disneyland Resort's “Diamond Celebration” float celebrating the park's 60th anniversary, in the 127th Rose Parade in Pasadena, California. AFP / Robyn BECK
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The 21st Century Fox Inc. shareholders approved the sale of the company's entertainment assets to Walt Disney Co.It's expected to close in the first half of next year, according to Fox. Upon completion, a new Fox will emerge focused on broadcast TV, sports and the Fox News Channel.Some 99 percent of Disney investors who voted approved the deal.Sky's FutureAlthough Comcast said last week it won't continue bidding for Fox's assets, the Philadelphia-based cable TV giant has the highest offer on the table for British satellite-TV provider Sky PLC at $34 billion. Disney is acquiring 39 percent of Sky through the deal with Fox and still has a bid on the table for the broadcaster.That's created a lot of angst at Fox and Disney, where overlapping marketing, ad sales and distribution departments at their respective film and TV units could lead to thousands of job cuts.
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