February 14, 2019
The DOJ has entered into a consent decree, which allows the Disney and 21st Century Fox acquisition to proceed while requiring the sale of the Fox Sports Regional Networks.
Under the consent decree, Disney has at least 90 days from the date of closing the transaction to complete this sale. The DOJ may grant extensions of time up to another 90 days, and the decree is subject to the normal court approval process.
Both Disney and 21CF provided the DOJ information needed for the investigation of the transaction.
“With the exception of the proposed acquisition of the Fox Sports Regional Networks, the transaction will not harm competition, and that we were able to resolve the limited potential concerns to position us to move forward with this exciting opportunity that will enable us to create even more compelling consumer experiences,” says Disney in a statement.
Completion of the transaction is subject to a number of non-United States merger and other regulatory reviews, and other customary closing conditions, as well as approval of shareholders of both companies.
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