Disney gains Brazil clearance for 21CF takeover, must sell Fox Sports channel

Nieuws Video Brazilië 28 FEB 2019
Disney gains Brazil clearance for 21CF takeover, must sell Fox Sports channel

Brazil's Economic Defense Administrative Council (Cade) approved the acquisition of 21st Century Fox by The Walt Disney Company, with the condition the company sell the Fox Sports channel. According to the Cade's evaluation, the operation would have left the segment of pay-TV sports channels even more concentrated, with a high probability of Disney exercising market power. The sale of the Fox Sports channel will allow the market structure to remain unchanged, with the continuity of three options of sports channels for consumers: SporTV from GloboSat, Disney's ESPN and another new company with the assets of Fox Sports. 

Disney has also undertaken the commitment, for a certain period of time, not to contract the sports leagues currently broadcast by Fox Sports channel and not to reacquire the assets to be sold. It also undertakes to offer the future buyer the option to license the Fox brand free of charge.

Categories:

Video

Companies:

ESPN,  Disney,  21st Century Fox,  The Walt Disney Company

Countries:

Brazilië

Tags:

Regulations, M&A buyouts & divestments

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