Disney-Fox deal has been approved by the Department of Justice

The battle over 21st Century Fox's film and TV assests has intensified in recent weeks, with Comcast besting Disney’s bid, only for Disney to clap back with an even bigger offer. With the bigger bid on the table, the House of Mouse is that much closer to owning the media giant (and therefore rights to the X-MEN, DEADPOOL and AVATAR movies) after the Department of Justice approved the Disney-Fox deal yesterday.

Word is (via The Hollywood Reporter) that the DOJ approved the deal under the condition that Disney sells off Fox’s regional sports networks, as those combined with Disney-owned ESPN would make a monopoly on the sports broadcasting playfield. Disney agreed to the stipulations, and are still looking to acquire Fox’s movie and TV departments (sans their news networks), Nat Geo, their 30 percent stake in Hulu, a 39 percent stake in European TV company Sky and more.

Assistant Attorney General Makan Delrahim spoke about the decision to make Disney sell of Fox’s 22 regional sports networks, saying that not combining them under ESPN would ensure healthy competition that keeps cable subscription prices lower.

American consumers have benefitted 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. Today’s settlement will ensure that sports programming competition is preserved in the local markets where Disney and Fox compete for cable and satellite distribution.

When it comes to the parts of Fox that Disney will not get, like Fox News, Fox Business Network and more, word is that they will go under the name of “New Fox” – at least for now. Other names that should be considered are "Fox Classic," "Fox Zero," and, of course, "Diet Fox." 

The war is not officially over yet, because even though the DOJ has approved this deal Fox and Disney still have to seek approval from other international entities. According to a memo sent to Fox employees from CEO James Murdock and co-executive chairman Lachlan Murdock, the deal could take as long as 6-12 months to finalize. Of course, this is all considering Disney's current $71 billion bid is not outmatched by Comcast, which is still something that's very possible.  

Source: THR
Tags: 2018, disney, Fox



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