The Walt Disney Company has offered antitrust concessions to help secure EU approval of its US$71.3 billion acquisition of 21st Century Fox’s entertainment assets. The move was announced Monday, October 15, by the European Commission, which is reviewing competition concerns over the merger, with Disney having submitted its proposals Friday October 12. Details of the concessions offered were not disclosed.
The European regulator has also extended its deadline for reviewing the merger from October 19 to November 11. The Commission is expected to consult with customers and media competitors before deciding whether to accept Disney’s proposed concessions.
Disney received approval of the acquisition from the US Justice Department in June after agreeing to sell off Fox’s 22 regional sports networks. Disney and Fox shareholders voted to approve the buyout on July 27.
Full Content: Reuters
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