DOJ Approves Disney-Fox Deal
The much-talked about $71 billion deal between Disney and 21st Century Fox seems to be all set to go, as the U.S. Department of Justice has recently approved the bid, on the condition that Fox’s regional sports networks be excluded from the deal.
The exclusion is meant to address separate monopoly concerns with regard to ESPN, under which Disney is required to sell the Fox Sports Regional Networks within 90 days from the date of closing the transaction. The rest of Fox’s entertainment assets are on the table, on the other hand, including their hefty TV and feature film businesses.
There are still possible regulatory hurdles that could prevent the deal from pushing true, but so far the DOJ’s greenlight is a big development in Disney’s favor, one that might push rival bidder Comcast to increase their previous offer of $65 billion for Fox’s assets.
Source: Deadline via AWN.com