A PYMNTS Company

Brazil: Disney agrees to sell Fox Sports

By  |  February 27, 2019

Walt Disney accepted a demand by Brazil’s antitrust regulator CADE that it sell local rights for the Fox Sports channel to win approval of its takeover of Twenty-First Century Fox, the regulator announced on Wednesday, February 27.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    CADE announced in a statement that Disney agreed to give the buyer of the sports channel the option to use the Fox brand at no additional cost, noting that the timeframe for the deal is confidential.

    According to the agreement signed between Disney and CADE, the divestiture will include all Fox Sports transmission rights in Brazil as well as contracts with cable TV operators, real estate, and transmission equipment.

    Key employees would also have to be transferred, CADE added.

    The Brazilian regulator also stated it had discussed antitrust consequences of the deal with regulators in Mexico and Chile.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.