Disney Offers EU Concessions for Fox Deal
In an effort to assuage antitrust concerns surrounding its planned $71.3 billion takeover of large portions of 21st Century Fox, The Walt Disney Co. has offered the EU unspecified concessions in its bid to get regulatory approval of the deal, according to The Hollywood Reporter.
The European Commission has extended its deadline to review the deal from Oct. 19 to Nov. 11.
According to THR, regulators will consider feedback from the two media giants’ customers and rivals before accepting the concessions or demanding more. Regulators will likely consider whether the acquisition–and the combined group’s potential force in the theatrical market–constitutes a breach of EU antitrust law.
Disney has already been granted approval for the deal from the U.S. Justice Department on the condition that sells Fox’s 22 regional sports networks.