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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Robert Downey Jr. Wanted Rewrites On The Fly During Iron Man 3

Robert Downey Jr. Wanted Rewrites On The Fly During Iron Man 3

Robert Downey Jr. was already known as a talented actor before he signed on to play Tony Stark/Iron Man, but his time in the Marvel Cinematic Universe over the last decade propelled him to a new level of fame. Like any other actor, Downey is hired to read lines off a script, but he's also known for improvising, including most recently in Avengers: Infinity War. In fact, director Shane Black noted that during his time on Iron Man 3, Downey would frequently cut scenes short so that they could quickly rewrite the dialogue. While talking about how he and his team were writing new material even during the production of his upcoming movie, The Predator, Black recalled:

And, on Iron Man [3], Downey would be like, 'Time!' and I'd be like, 'We're shooting!' and he'd be, 'No, shut the cameras' and we'd go back to the trailer and we'd all write, because he wanted new lines. I mean, maybe it's a little bit of that. Maybe I took a lesson from him. We've had a great deal of fun incorporating input from talented people who haven't been looking at the same pages for two years.

Shane Black took over helming duties from Jon Favreau for Iron Man 3, and compared to the previous two Iron Man movies, the threequel definitely felt different. But as Black mentioned to CinemaBlend's own Eric Eisenberg during a set visit for The Predator, even some of what was originally written for Iron Man 3 didn't make it into the final cut, as Downey kept asking for certain moments to be rewritten right then and there. Making sudden rewrites isn't always a good course of action when making a movie, especially a blockbuster, as there's a process laid out ahead of time to ensure that the story flows properly and production runs smoothly. But even then, Downey had enough pull, both as Iron Man 3's star and the guy pretty much anchoring the MCU, to change lines that he felt weren't working. Judging by what Black said, it sounds like he adopted a similar mindset when working on The Predator.

While Iron Man 3 is certainly one of the more polarizing MCU movies among fans (the Mandarin twist continues to be debated), for the most part it was received well among critics, ranking at 80% on Rotten Tomatoes. It marked the end of the Iron Man film series, though Tony Stark has continued to be an important player in the MCU through the Avengers movies, Captain America: Civil War and Spider-Man: Homecoming. While nothing has been officially announced yet, Robert Downey Jr. appears to be wrapping up his time in this massive franchise, meaning that next year's Avengers 4 may be the last time we see him playing the genius billionaire playboy philanthropist.

You can currently see Robert Downey Jr. playing Tony Stark in Avengers: Infinity War, and he'll return for Avengers 4 on May 3, 2019. If you're interested in learning what other MCU projects are in development, look through our Marvel movies guide. As for Shane Black, you can see how his work on The Predator turned out when it is released on September 14.






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