"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," Maker said in a statement on Monday.
YouTube network Maker Studios said on Monday a majority of shareholders had approved its purchase by Walt Disney Co, making clear it was not for sale to Relativity Media, which made a surprise bid of up to USD 1.1 billion for the company.
Disney agreed to buy Maker on March 24 for USD 500 million in cash , a price that could rise to USD 950 million if Maker hits performance milestone.
"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," Maker said in a statement on Monday.
Maker, founded in 2009, is one of the largest video production networks on Google Inc's YouTube. Maker targets the younger millennial generation, known for its appetite for online video.
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