WPT Enterprises Inc. said that a majority of its shareholders approved the sale of its World Poker Tour assets to a British media company.

WPT said in a Monday regulatory filing that its board rejected a last-minute offer with a higher bid that came from a Century City media company.

Under the deal approved Friday, Peerless Media Ltd. will pay the equivalent of $12 million in cash plus a share of future revenue from the WPT poker games. WPT, a Miracle Mile company that plans to go into another business, said the asset purchase agreement with Peerless was approved by 85 percent of shares voted, representing 58 percent of 20.6 million of outstanding shares. The sale is expected to close in the next few weeks.

WPT Enterprises Inc. last week received an offer from Mandalay Media, a Century City development-stage new media company. Mandalay offered to acquire the entire company for $36.5 million, consisting of $28.5 million in cash, $5 million in Mandalay Media stock and perpetual revenue participation rights, guaranteed to be at least $3 million.

Despite the higher bid, WPT’s board concluded the offer was not a superior proposal, the company said in the regulatory filing.