[ad_1]
European authorities have approved Disney's purchase of 21st Century Fox's assets, subject to conditions. The European Commission has stated that Disney has agreed to unload its A & E channels in Europe in order to dispel fears that the Fox agreement would eliminate competition in the field of fact-lines.
Through its A & E joint venture with Hearst, Disney holds stakes in History, H2, Crime & Investigation, Blaze and Lifetime. Fox's assets acquired include the National Geographic family of channels, which offers a similar range of factual rates and factual entertainment.
Disney's promises to abandon the A & E channels "completely eliminate the overlap of Disney and Fox's activities in the wholesale supply of EEE factories," the commission said in a statement referring to the 39 European Economic Area, which comprises 31 countries.
As major studios, Fox and Disney have signed major exit contracts with broadcasters and pay-TV platforms throughout Europe. However, the European competition authorities found that the production and distribution of films, or the licensing of film and television programs, did not raise any competition concerns.
The European Commission concluded that "the proposed transaction, as modified by the commitments, would no longer raise competition concerns". She added: "The Commission's decision is conditional on full compliance with the commitments."
The Disney-Fox deal is expected to be finalized in the first half of 2019. Disney will take control of a set of Fox assets, including Fox's 50% stake in Endemol Shine after the sale of the production group in point dead, but not in History, Lifetime and the other A & E channels in Europe.
Disney will remain a joint venture partner in A & E elsewhere.
Source link
