by Ray Keating
November 19, 2018
The Walt Disney Company has received approval from China for its purchase of the assets of 21stCentury Fox, according to a report today from CNBC.
The Chinese approval comes on the heels of an okay from the European Union earlier this month. Unlike the U.S. and the EU, China attached no conditions on the deal’s approval. For good measure, speculation that China might drag this deal into the ongoing trade dispute with the U.S. proved false.
The U.S. has required that Disney sell 22 regional Fox Sports networks, while the EU has required Disney to cut off ties to the History, H2 and Lifetime networks.
Several other nations must provide regulatory approval for the acquisition, but China and the EU were the big hurdles that needed to be cleared after the United States. The deal reportedly should be closed during the first half of 2019.
Ray Keating is the editor, publisher and economist for DisneyBizJournal.com, and author of the Pastor Stephen Grant novels, with the two latest books being Reagan Country: A Pastor Stephen Grant Noveland Heroes and Villains: A Pastor Stephen Grant Short Story. He can be contacted at email@example.com.