Disney’s Fox Acquisition Gets Unconditional Approval From China

Disney announced that China has given unconditional approval to the company’s acquisition of 21st Century Fox assets.

The Middle Kingdom’s approval of Disney’s $71.3 billion acquisition of key 21st Century Fox assets marks the latest regulatory hurdle both companies have surmounted, with the deal already getting the go-ahead from shareholders and the U.S. Department of Justice. With both Disney and Fox being corporate giants in America, some analysts expressed concerns that U.S. tariffs against China might have prompted the country’s regulators to retaliate by using their antitrust approval process to hinder the deal.

News of China’s unconditional approval drove up the stocks of both Disney and Fox.

While the deal between Disney and Fox still requires antitrust approval from several national regulators around the world, Disney has stated that acquisition is expected to close during the first half of 2019. 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.

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.

Source: The Hollywood Reporter