Disney Secures U.S. DOJ Antitrust Approval For Fox's Assets
Zacks Investment Research | Jun 27, 2018 10:10PM ET
Disney (NYSE:DIS) recently announced that the Antitrust Division of the United States Department of Justice (DOJ) has cleared its pending acquisition of Twenty-First Century Fox’s (NASDAQ:FOXA) assets.
However, the approval is subject to the condition that Disney will divest Fox Sports Regional Networks within a maximum of 180 days from the date of closing of the acquisition transaction. The regional channels include Fox's YES Network, which airs New York Yankees baseball games around the New York metro area.
The networks currently have approximately 61 million subscribers and have rights to telecast live games of 44 out of 81 U.S. professional sports teams in Major League Baseball (MLB), the National Basketball Association (NBA) and the National Hockey League (NHL) collegiate conferences, and numerous college and high school sports teams.
Disney Gains Edge Over Comcast
The approval surely removes a major hurdle for Disney and provides it an edge over Comcast (NASDAQ:CMCSA) in the ongoing bidding war for Fox’s assets.
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