Disney/Fox Merger Clears Major Hurdle; Expected To Close In March

The unprecedented buyout of 21st Century Fox by Disney is still pending government approval here in the United States; however, it seems negotiations regarding the two companies’ merger elsewhere in the world are coming to a close.

The rumor comes from a Bloomberg source who wishes to remain anonymous as details about the deal have not yet gone public. The source says that the $71 billion Disney purchase of 21st Century Fox is nearing final approval in Brazil. The country has been one of the largest holdouts as far as giving the deal the green light; however, it looks like things may just go the way of the Mouse House after the two companies agreed to sell off the Fox Sports channel and in-country programming. The regulatory agency Cade concluded that Disney’s ownership of both Fox Sports and ESPN would have otherwise been too overpowering and left only one other competitor in the Brazilian sports network.

The final decision is expected from the agency Wednesday.

It was not Disney’s first choice to sell off those assets. During the two months in which Cade was overseeing regulatory negotiations, the companies attempted to work out other, less drastic measures. Disney Chief Executive Officer Bob Iger himself flew down to Brazil earlier this month to personally get in on these meetings.

Disney and 21st Century Fox are being forced to make similar deals in other countries. In the United States, the House that Mickey Built agreed to sell off Fox’s 22 regional sports networks after the Justice Department concluded that ownership of those channels plus Entertainment Sports Programming Network would ultimately give the company too much influence in the arena of sports broadcasting. Across the pond in Europe, Disney will be selling off its 50 percent stake in A+E Networks in order to meet demands of regulators.

The unidentified source also tells Bloomberg that Mexican authorities are expected to demand similar deals from the companies.

Regardless of how the Disney-Fox deal works out across the world, the Mouse House will still acquire global domination through other means, such as Avengers: Endgame. Here is the synopsis:

A culmination of 22 interconnected films the fourth installment of the Avengers saga will draw audiences to witness the turning point of this epic journey. Our beloved heroes will truly understand how fragile this reality is and the sacrifices that must be made to uphold it.

Directed by Joe and Anthony Russo, Avengers: Endgame stars Robert Downey Jr., Chris Hemsworth, Mark Ruffalo, Chris Evans, Scarlett Johansson, Benedict Cumberbatch, Don Cheadle, Tom Holland, Chadwick Boseman, Paul Bettany, Elizabeth Olsen, Anthony Mackie, Sebastian Stan, Danai Gurira, Letitia Wright, Dave Bautista, Zoe Saldana, Paul Rudd, Jeremy Renner, Brie Larson, Josh Brolin and Chris Pratt.

Avengers: Endgame is scheduled to be released in theaters on April 26, 2019.

Source: Bloomberg