Disney-Fox deal approved by European Union with minimal conditions
The Disney-Fox deal has been cleared by the European Union, pending a handful of small divestments. Disney will have to sell off its interest in factual channels such as History, H2, Crime & Investigation, Blaze and Lifetime in the European Economic Area.
It’s a small concession for Disney. The company previously agreed to sell off the 22 regional sports cable networks it was picking up from Fox in order to gain the approval of the U.S. Justice Department back in June.
The EU’s approval is one of the last major dominoes to fall before Disney and Fox can close their historic deal. The biggest market left to approve the transaction is China.
While there has been some paranoia that the Disney-Fox deal could be caught up in the trade war between China and the United States, that is not the most likely outcome. China is expected to approve the deal.
Disney and Fox remain on track to close their deal within six to twelve months of June 20, 2018. That’s the timeline both companies told shareholders before those investors voted to approve the deal in July.
SOURCE: The Hollywood Reporter