Monday, 17 December, 2018

Disney’s bid for Fox clears USA antitrust hurdle

Disney can buy 21st Century Fox for $71 billion feds say 21st Century Fox can buy Disney the feds said Wednesday
Freda Brock | 28 June, 2018, 04:40

The Fox sale to Disney would include 21st Century Fox's film and television studios, cable entertainment networks, and global properties including Star in India and Fox's 39-percent ownership of Sky across Europe. The slimmed down 21st Century Fox would retain the Fox broadcast network, Fox News, Fox Sports and Fox Business.

As Comcast ponders a bidding war against Disney for 21st Century Fox's entertainment assets, one analyst had a rather interesting suggestion to Fierce's query as to what assets Comcast might unload to pay down the massive debt that would come from winning a deal.

The approval requires the sale of Fox's regional sports networks in the USA, due to competition concerns, the Justice Department's antitrust division said.

The Walt Disney Co. on Wednesday won US antitrust approval for its $71.3 billion bid for Twenty-First Century Fox's entertainment assets.

The proposed settlement will be considered by a USA federal court for final approval. Comcast's offer was all-cash and would have been "at least as favorable" to Fox's shareholders as Disney's offer at around $60 billion.

New Bentley Bentayga Pikes Peak Limited Edition revealed
The twin turbo unit produces 600bhp and 900nm, sending drive to all four wheels through an eight-speed automatic gearbox. The steering wheel and gearlever are also trimmed in Alcantara, while the headlining is made with Eliade cloth.

The settlement clears a major hurdle for Disney and Fox, but they still must maneuver antitrust laws around the globe before the merger can be finalized.

Royals games may be shown on a network other than Fox Sports Kansas City next season.

In his own statement, Makan Delrahim, who runs the DOJ's antitrust division, said that "American consumers have benefited from head-to-head competition between Disney and Fox's cable sports programming that ultimately has prevented cable television subscription prices from rising even higher".

Combining Fox's regional sports channels with Disney's ESPN would "likely substantially lessen competition" in television markets around the country, a court filing from the department said. Comcast did not immediately respond to a request for comment Wednesday. That threat prompted AT&T Inc.to buy Time Warner Inc., a deal the government challenged and lost at trial earlier this month.

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