Disney & 21st Century Fox Merger Now Expected To Close By March

Variety reports that the deal between Disney and 21st Century Fox is now expected to close by March 2019.

At the end of the previous year, it was reported that executives were expecting Disney’s acquisition of 21st Century Fox’s key entertainment assets to close in the final week of January. However, a new report by Variety reveals that the transaction is now expected to be close by early March of this year.

The new-model Fox Corp. has also confirmed that it will not bid in the auction of the 22 regional sports networks that Disney is set to acquire from 21st Century Fox, which Disney had to sell as part of the conditions the U.S. Justice Department set in order to approve the $71.3 billion deal. In a Securities and Exchange Commission, 21st Century Fox noted:

Fox confirms that it does not intend to bid for any of the Fox regional sports networks that Disney (or any entity operating on its behalf) may sell as required by the consent decree with the U.S. Department of Justice.

To date, the acquisition has already been approved by European antitrust regulators, though this go-ahead required Disney to sell its stakes in Europe in such networks including Lifetime and History. China approved of the deal without any conditions.

The deal would bring together Fox franchises including X-Men, Fantastic Four, Avatar, and The Simpsons with Disney’s Star Wars, Marvel, and Pixar properties.

Stay tuned to Heroic Hollywood for the latest news on the deal between Disney and Fox.

Source: Variety