The TSLa stock market closed on Monday with a stock price of $6,322 per share.
The transaction was expected to close around 4 p.m.
ET on Tuesday, though the price could change and be affected by the outcome of the FCC hearing on the merger.
The merger would allow TSL A, the parent company of The Walt Disney Company, to merge with Disney’s other holding, Time Warner Inc. in a bid to bring more Disney-branded content to consumers and compete against Comcast, Verizon Communications and AT&T.
The TSL merger would also create the largest entertainment conglomerate in the United States.TSLA said the transaction was in the best interest of shareholders and would not create a “massive and potentially disruptive impact on the industry.”
It also said that the deal was subject to regulatory approvals, and it was “committed to working with regulators to ensure the transaction will be approved.”
The TSPO transaction also involves a $5 billion investment by TSL Holdings.
It would also be a merger of two smaller, more profitable holding companies, TSL Entertainment and TSL Media.TSPO, the holding company that owns TSL, would also receive $5.5 billion in cash.
It is unclear how much the deal is worth, although it was expected at least in part to help TSL with its debt burden.
The deal also included an option for TSL to sell its stake in Disney.TULA, the company that would own The Walt, said it was committed to investing $10 billion to expand the Disney-owned content network.TBLA, which would own the network, also said it would invest in new programming and content to better compete with Comcast, TimeWarner and Verizon.TBS, which owns the cable channel TNT, also made the announcement.TIMA, whose parent company is TSLE, announced it would also invest in TSL’s media and entertainment operations.
The deal is expected to raise at least $50 billion to create a company that is a $10 trillion industry, according to the company.