Disney wins approval to buy most of 21st Century Fox for $71 billion


  • Photo via Disney
The Walt Disney Company won U.S. antitrust approval to purchase most of 21st Century Fox's assets for $71 billion.

The New York Times reports the Justice Department reached a settlement with Disney on their bid for Fox's assets on the condition that Disney sell Fox's 22 regional sports networks, which includes the Yankees’ YES network. Disney's $71 billion offer puts a dent in a rival offer from Comcast Corp. for $65 billion. 

"Today’s settlement will ensure that sports programming competition is preserved in the local markets where Disney and Fox compete for cable and satellite distribution," said Makan Delrahim, head the Justice Department’s antitrust division, in a statement.

The purchase is not final, and Comcast still has time to sweeten its offer even further. If Disney's bid is successful, the company will have at least 90 days after the transaction to complete the sale of Fox Sports Regional Networks, with the possibility of the Justice Department granting extensions.

"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," Walt Disney Company said in a statement.

Stay on top of Orlando news and views. Sign up for our weekly Headlines newsletter. 

We welcome readers to submit letters regarding articles and content in Orlando Weekly. Letters should be a minimum of 150 words, refer to content that has appeared on Orlando Weekly, and must include the writer's full name, address, and phone number for verification purposes. No attachments will be considered. Writers of letters selected for publication will be notified via email. Letters may be edited and shortened for space.

Email us at feedback@orlandoweekly.com.

Orlando Weekly works for you, and your support is essential.

Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of Central Florida.

Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.

Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep Orlando’s true free press free.