China approves Disney’s Fox takeover

LOS ANGELES — The Walt Disney Co. said Monday that Chinese regulators had unconditionally approved its purchase of 21st Century Fox assets, pushing the $71.3 billion deal closer to completion.

Disney is still awaiting regulatory approval from a handful of countries, which a spokesman declined to identify. But none are as important as China — a crucial growth market for Disney, given its swelling middle class. Furthermore, analysts had worried that the Disney deal could become collateral damage in the trade war, as China looked for ways to retaliate against the United States for putting tariffs on Chinese goods.

China’s approval of the deal is particularly notable because it came without conditions. European regulators cleared Disney’s acquisition of most of 21st Century Fox this month, but that agreement required Disney to sell its European stake in A&E Networks, which includes the History and Lifetime cable channels.

U.S. antitrust officials gave their approval with remarkable speed in June, with the stipulation that Disney divest Fox’s 22 regional sports networks, including the New York Yankees’ YES channel. Disney began taking bids this month. Analysts have valued the chain at roughly $20 billion.

Disney’s takeover of most of 21st Century Fox was initially expected to be completed by June of next year. On an earnings-related conference call with analysts on Nov. 8, however, Robert Iger, Disney’s chief executive, said he expected the deal to close “meaningfully earlier.”