A PYMNTS Company

EU: EC approves Disney’s US$71b Fox buy, but Disney needs to sell History and Lifetime

By  |  November 6, 2018

Disney’s US$71.3-billion offer to buy Twenty-First Century Fox’s entertainment assets won approval from the European Commission on Tuesday, November 6, subject to Disney selling interests in factual TV channels in Europe, reported CNBC.

Disney committed to divest its interests in channels including History and Lifetime in the European Economic Area (EEA) to avoid harming competition following its purchase from Fox, reported the EU regulator.

“The decision is conditional on full compliance with commitments offered by Disney,” the Commission announced.

The channels it must end its interest in are A+E Television Networks, History, H2, Crime & Investigation, Blaze, and Lifetime channels—currently owned by A+E Television Networks, a joint venture between Disney and Hearst.

Disney secured conditional approval from the US Justice Department for the deal in June after agreeing to sell Fox’s 22 regional sports networks.

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