EU approves Disney's deal to buy Fox entertainment assets

EU approves Disney's deal to buy Fox entertainment assets
In this Aug. 8, 2017, file photo, The Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. 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. The European Commission said Tuesday, Nov. 6, 2018 it gave its approval to the deal under the EU Merger Regulation. (AP Photo/Richard Drew, File)

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 Tuesday 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.


Explore further

21st Century Fox to sell its 39% stake in Sky to Comcast

© 2018 The Associated Press. All rights reserved.

Citation: EU approves Disney's deal to buy Fox entertainment assets (2018, November 6) retrieved 19 May 2019 from https://phys.org/news/2018-11-eu-disney-fox-assets.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
32 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more