Shareholders have approved a $71 billion deal that merges some of 21st Century Fox's film and television assets with Disney.  

Both companies announced Friday that their shareholders gave the greenlights to create a new Fox in separate meetings. 

Disney is purchasing the assets, which exclude the Fox News and Fox Business networks, for $38 a share.​  

Disney raised its offer after Comcast ignited a bidding war by putting in a $65 per share offer for the 21st Century Fox assets. Comcast ended its bid last week, saying it would instead focus on its fight with Fox to acquire the British broadcaster Sky.