Mexico’s telecoms regulator announced on Friday, March 5, it has pushed back until May 1 its deadline for the sale of Fox Sports in Mexico as part of the terms of Walt Disney’s acquisition of Twenty-First Century Fox film and television assets.
The Federal Telecommunications Institute (IFT) stated it was postponing the deadline, which had been set to expire on Friday, for selling the Fox Sports channels because of the difficulty of completing the sale amid the COVID-19 pandemic. The regulator stated the companies had requested the extension.
The IFT in 2019 approved Disney’s US$71 billion purchase of Fox’s film and television assets, subject to the sale of Fox Sports channels, due to the “considerable” accumulation of market power the acquisition would create.
The extension does not exempt the companies from complying with various conditions set for the transaction, including the upkeep and sale of Fox Sports in Mexico as a viable business, the IFT said in a statement. The divestiture process must conclude by May 7, the regulator added.
Mexican broadcaster Televisa later in 2019 won an injunction against the merger over its impact on competition in Mexico, but the IFT stated that the ruling would not stall the deal.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
NCAA and SEC Approve Historic $2.8 Billion Settlement in Antitrust Cases
May 23, 2024 by
CPI
Apple Defends 27% Fee in Compliance with Court Order, Phil Schiller Testifies
May 23, 2024 by
CPI
French Billionaire Xavier Niel Eyes $4 Billion Millicom Buyout
May 23, 2024 by
CPI
ITA-Lufthansa Merger Faces Scrutiny from European Commission
May 23, 2024 by
CPI
Google Explores Major Acquisition of HubSpot to Bolster Cloud
May 23, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI