EU AP­PROVES DIS­NEY’S DEAL TO BUY FOX EN­TER­TAIN­MENT AS­SETS

Apple Magazine - - Summary -

Eu­ro­pean Union au­thor­i­ties say they have cleared Dis­ney’s ac­qui­si­tion of Fox’s en­ter­tain­ment as­sets, pro­vided Dis­ney sells off some TV chan­nels it con­trols in Eu­rope to main­tain com­pe­ti­tion.

The EU’s ex­ec­u­tive Com­mis­sion said this week it gave its ap­proval to the deal.

Dis­ney’s $71.3 bil­lion deal to buy the 21st Cen­tury Fox as­sets, which in­clude Mar­vel’s X-Men and Avengers fran­chises, is part of its plan to com­pete with tech com­pa­nies such as Net­flix and Ama­zon as the en­ter­tain­ment in­dus­try moves into the dig­i­tal stream­ing era.

Dis­ney share­hold­ers and U.S. reg­u­la­tors had al­ready ap­proved the Fox bid.

The Eu­ro­pean Com­mis­sion said Dis­ney agreed to sell off all fac­tual TV chan­nels it con­trols in Eu­rope to ad­dress con­cerns the com­bined com­pany would have elim­i­nated com­pe­ti­tion be­tween two big whole­sale sup­pli­ers.

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