Disney's Acquisition Of 21st Century Fox Has Secured Approval From Justice Department, But It's Not Over Yet

Disney's Acquisition Of 21st Century Fox Has Secured Approval From Justice Department, But It's Not Over Yet

Disney's acquisition of 21st Century Fox's film assets took a big step in the right direction today as the U.S. Department of Justice announced that they've approved the deal, but it's still far from over.

After agreeing to part ways with 21st Century Fox's twenty-two regional sports networks, The Walt Disney Company has received approval from the U.S. Department of Justice on its proposed $71.3 billion acquisition of Fox's film and television assets. 

This is a big step moving forward and gives the House of Mouse a significant advantage over Comcast as they attempt to close out this deal before the end of next summer. However, before Marvel fans can begin celebrating, it should be noted that Comcast has no intention to bow out just yet and can still submit a counteroffer, which, according to Variety, they are expected to do sometime soon. Analysts are even beginning to speculate that the bidding war could potentially reach $90 billion before all is said and done. 

The revised deal will now see Disney attempt to acquire the 20th Century Fox film studio, the FOX television studio, FX Networks, Star India, National Geographic, 30% of Hulu, and 39% of Sky.

Meanwhile, Fox News, Fox Business Network, the Fox broadcast network, FS1, and FS2 will move over to something that's being referred to as New Fox.

In a statement following the announcement, Disney said, “The parties have worked diligently since announcing the acquisition last December to provide the DOJ the information that it needed for its investigation of the transaction. We are pleased that the DOJ concluded that, with the exception of the proposed acquisition of the Fox Sports Regional Networks, the transaction will not harm competition, and that we were able to resolve the limited potential concerns to position us to move forward with this exciting opportunity that will enable us to create even more compelling consumer experiences.

While the X-Men and Fantastic Four potentially joining the Marvel Cinematic Universe has received a lot of publicity, Disney's primary objective remains to obtain Fox's extensive film and television library, which would be a significant asset as they work toward launching their direct-to-consumer streaming service in 2019.
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