Disney issued its own stockholders a letter earlier this month urging their vote on the merger between The Walt Disney Company and Twenty-First Century Fox, Inc., which would see Disney enter into a separation agreement with a newly-formed subsidiary of 21CF dubbed "New Fox." That initial agreement would "transfer to New Fox a portfolio of 21CF's news, sports and broadcast businesses, including the Fox News Channel, Fox Business Network, Fox Broadcasting Company, Fox Sports, Fox Television Stations Group, and sports cable networks FS1, FS2, Fox Deportes and Big Ten Network, and certain other assets," the letter read, indicating assets not falling under the Disney deal. Under the new deal, "21CF will retain all assets and liabilities not transferred to New Fox, including the Twentieth Century Fox film and television studios and certain cable and international television businesses."