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Disney announced to its shareholders a new forecast regarding the Fox merger: before June 2019; the previous forecast was January this year (which did not happen). At a meeting with the board of directors, Disney executives confirmed the company's record growth and raised plans to increase profits even in the presidential administration of Bob Iger (2005 – 2019).
The shareholders of Disney and Fox have already accepted the acquisition, but the proposal still needs to be approved by various anti-monopoly organizations. Of the 24 councils that would badyze the proposal, more than 20 have already issued a positive opinion on the merger. The Brazilian agency Cade (Administrative Council of Economic Defense) is one of those who has not yet approved the merger of companies and which imposes sanctions in order to materialize the business. agreement between the two companies in the audiovisual industry.
Cade's initial opinion was not positive. claimed that this purchase would create a duopoly on the market of Brazilian sports channels. To continue, Disney must sell or stop ESPN or Fox Sports. The general meeting of shareholders on February 30 revealed that the company had to get rid of Fox. The list of properties presented to the Board of Directors does not include the brand Fox Sports, a chain that would be an important arm of society.
Cade has until March to review the file and make a verdict on the purchase of Fox.
If Disney actually has the sports channel, it is highly likely that the acquisition will be approved without much. problems. This would happen before June, because the vote of the Cade will take place between February and March.
The Superintendence of the Cade understands that fusion is a concern for sports channels, as it would create a highly concentrated environment where the diversity of content can decrease and costs increase.
Fox TV channels have always been an elephant in a crystal room for Disney. Last year, information leaked to the press indicated that the Mickey company was planning to phase out the channels over a period of seven years (until 2025).
According to Noticias TV, the content of the Fox channel would be transferred to other channels. Disney-owned locations: Fox Sports functions, for example, must be handled by ESPN. Already Libertadores and the series must go to Disney Play – the service of streaming of Disney.
Disney bought Fox for worth $ 71.3 billion .
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