Disney's Bid for Fox Clears US Antitrust Hurdle

Associated Press |

Image via Michael Mandiberg/Flickr CC

NEW YORK (AP) — The Walt Disney Co.  (DIS) has won U.S. antitrust approval for its $71.3 billion bid for Twenty-First Century Fox's  (FOXA) entertainment assets.

That sets the clock ticking for the deal to be completed. Disney has 90 days to seal the acquisition, with an option to extend for another 90 days.

The Department of Justice said Wednesday Disney must first sell its 22 regional sports networks.

Fox's assets have been the target of bidding war between Comcast and Disney. Comcast offered nearly $66 billion for Fox's assets, which include the FX network and the studio that houses the X-Men franchise.

Fox has the option to consider other offers and Comcast could raise its bid.

Telecom and broadband providers have been buying content makers to counter competition from companies like Netflix and Amazon.

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Companies

Symbol Name Price Change % Volume
FOXA Twenty-First Century Fox Inc. 48.78 -0.17 -0.35 11,204,984 Trade
DIS The Walt Disney Company 109.45 -1.17 -1.06 6,682,315 Trade

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