NEW YORK and LOS ANGELES, Oct. 14,
2019 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX)
today confirmed that Credible Labs Inc.'s (ASX: CRD) ("Credible")
stockholders overwhelmingly voted in favour of Fox Corporation's
proposed acquisition of 67% of the equity of Credible.
Credible stockholders voted at a special meeting held today in
Sydney, Australia.
This vote comes after Credible's Board of Directors unanimously
recommended stockholders to vote "FOR" the proposal.
Commenting on the vote, Fox Corporation Executive Chairman and
Chief Executive Officer, Lachlan
Murdoch said: "Today Credible's stockholders overwhelmingly
supported Fox Corporation's proposed merger. This transaction
advances Fox's innovative digital strategy focused on meaningful
engagement with our large audiences. When combined with Credible's
industry-leading user experience, the strength and breadth of the
FOX brands offer a unique opportunity to deliver greater impact and
scale in the fast-growing marketplace of digital consumer finance.
We look forward to the partnership with Stephen Dash and his team."
Details of merger:
The transaction is expected to close promptly now that it has
gained receipt of a majority vote of all Credible stockholders as
well as a majority vote of all shareholders other than Mr. Dash and
his affiliates. It is now only subject to the receipt of regulatory
approvals and other customary closing conditions.
Kirkland & Ellis LLP and Herbert Smith Freehills are serving
as U.S. and Australian legal counsel, respectively, to Fox
Corporation.
About Fox Corporation
Fox Corporation produces and
distributes compelling news, sports and entertainment content
through its iconic domestic brands including: FOX News Media, FOX
Sports, FOX Entertainment and the FOX Television Stations. These
brands hold cultural significance with consumers and commercial
importance for distributors and advertisers. The breadth and depth
of our footprint allows us to deliver content that engages and
informs audiences, develops deeper consumer relationships and
creates more compelling product offerings. FOX maintains an
impressive track record of news, sports, and entertainment industry
success that will shape our strategy to capitalize on current
strengths and invest in new initiatives. For more information about
Fox Corporation, please visit www.FoxCorporation.com.
About Credible
Credible (ARBN: 621 866 813) is a U.S.
company based in San Francisco
which operates a consumer finance marketplace that helps consumers
save money and make better financial decisions. Credible has
developed a proprietary technology platform that is integrated with
credit bureaus and financial institutions. Credible has developed a
differentiated, and personalized user experience that enables
consumers to compare instant, accurate pre-qualified rates from
multiple financial institutions for student loans, personal loans
and mortgages. For more information, please visit:
www.credible.com
Cautionary Note Regarding Forward Looking
Statements
This news release contains forward-looking
statements and information within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements and
information relating to Fox Corporation's proposed acquisition of
Credible equity. Words such as "may," "will," "should," "likely,"
"anticipates," "expects," "intends," "plans," "projects,"
"believes," "estimates," "outlook" and similar expressions are used
to identify these forward-looking statements. These statements are
based on management's current expectations and beliefs and are
subject to uncertainty and changes in circumstances. Actual results
may vary materially from those expressed or implied by the
statements in this news release due to changes in economic,
business, competitive, technological, strategic and/or regulatory
factors and other factors affecting the operation of the business
of Fox Corporation. More detailed information about risk factors
affecting Fox Corporation is contained in the documents Fox
Corporation has filed with or furnished to the Securities and
Exchange Commission (the "SEC"), including its Annual Report on
Form 10-K for the fiscal year ended June 30,
2019, and subsequent Quarterly Reports on Form 10-Q.
Investors are cautioned not to put undue reliance on forward
looking statements or information. Statements and information in
this news release speak only as of the date they were made, and Fox
Corporation does not undertake any duty to update or release any
revisions to any forward looking statement made in this news
release or to report any events or circumstances after the date of
this news release or to reflect the occurrence of unanticipated
events or to conform such statements and information to actual
results or changes in expectations, except as required by law.
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SOURCE Fox Corporation