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Maker Studios OKs Disney Offer

Despite a last-minute bid from Relativity Media, Walt Disney's (NYSE:DIS) acquisition of Maker Studios was approved by the online video producer's shareholders on Monday afternoon.In March, Disney offered to buy Maker Studios for $500 million in cash and $450 million in additional stock if certain performance targets are met. Relativity, a mid-size film studio, made a competing offer of up to $1.1 billion."As per the announcement made on March 24, Maker Studios has entered into a merger agreement with The Walt Disney Company. The agreement has been approved by Maker Studios' Board of Directors and the majority of its shareholders and is expected to close in the next few weeks, subject to regulatory approval," a spokesperson for Maker Studios said.A Relativity Media spokesperson said the company will seek future opportunities to accelerate digital content creation and distribution.Maker Studios signs YouTube talent and creates videos for channels on the Google (NASDAQ:GOOG) video servic...

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