News
DisneyBizJournal.com
November 19,
2018
The Walt Disney
Company has received approval from China for its purchase of the assets of 21st
Century Fox, according to a report today from CNBC.
The Chinese
approval comes on the heels of an okay from the European Union earlier this
month. Unlike the U.S. and the EU, China attached no conditions on the deal’s
approval. For good measure, speculation that China might drag this deal into
the ongoing trade dispute with the U.S. proved false.
The U.S. has
required that Disney sell 22 regional Fox Sports networks, while the EU has
required Disney to cut off ties to the History, H2 and Lifetime networks.
Several other
nations must provide regulatory approval for the acquisition, but China and the
EU were the big hurdles that needed to be cleared after the United States. The
deal reportedly should be closed during the first half of 2019.
Ray Keating
is the editor, publisher and economist for DisneyBizJournal.com, and author of
the Pastor Stephen Grant novels, with the two latest books being Reagan
Country: A Pastor Stephen Grant Novel and Heroes and
Villains: A Pastor Stephen Grant Short Story. He can be
contacted at raykeating@keatingreports.com.
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