Dept. of Justice Approves Disney's Purchase of Fox Assets
Source: New York Times
The Department of Justice approved the Walt Disney Companys $71 billion bid for the entertainment assets of 21st Century Fox on Wednesday, potentially complicating Comcasts desire to make a rival offer for Rupert Murdochs entertainment empire.
The governments approval was filed in federal court on the condition that Disney, which already owns ESPN, divest all of Foxs 22 regional sports networks, which include valuable channels like the Yankees YES network.
Todays settlement will ensure that sports programming competition is preserved in the local markets where Disney and Fox compete for cable and satellite distribution, Makan Delrahim, the head the Justice Departments antitrust division, said in a statement.
In December, Disney and Fox agreed to an all-stock deal worth $52.4 billion. Then, two weeks ago, Comcast made an offer for the Fox assets worth about $65 billion. That prompted Disney to come back with its richer offer, which is a mix of cash and stock.
Read more: https://www.nytimes.com/2018/06/27/business/media/disney-fox-antitrust-comcast.html
djacq
(1,634 posts)It'll be a massive improvement.
FarPoint
(12,487 posts)To include the Fox Propaganda Network News for the GOP
kysrsoze
(6,025 posts)BumRushDaShow
(130,146 posts)We shall see.
Blue_Adept
(6,402 posts)Which has been known since the discussions came up last year.
GulfCoast66
(11,949 posts)And Hannity and his racist crew will not work for them.
pstokely
(10,541 posts)nt