Walt Disney's $71-billion deal with 21st Century Fox backed by proxy firms

Disney is locked in a three-way battle to divvy up the assets of 87-year-old media mogul Rupert Murdoch

Walt Disney’s $71 billion deal with 21st Century Fox won the endorsement of influential proxy advisers Institutional Shareholder Services Inc. and Glass Lewis & Co., giving the entertainment giant another edge over rival suitor Comcast.

Both firms recommended that Fox shareholders vote in favour of the transaction during a July 27 investor meeting, with Glass Lewis arguing that Disney offered “a unique, prospectively far-reaching opportunity” to capitalise on the acquisition. Disney is vying with Comcast to acquire a prized collection of Fox entertainment assets that includes the 20th Century Fox film and TV studios.