Disney’s bid for Fox clears US antitrust hurdle
New York – The Walt Disney Co. has won U.S. antitrust approval for its $71.3 billion bid for Twenty-First Century Fox’s entertainment assets.
The Department of Justice said Wednesday Disney must first sell its 22 regional sports networks.
Disney has 90 days to sell the networks, with an option to extend for another 90 days.
Fox’s assets have been the target of bidding war between Comcast and Disney. Comcast offered nearly $66 billion for Fox’s assets, which include the FX network and the studio that houses the X-Men franchise.
Fox has the option to consider other offers and Comcast could raise its bid.
The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms.