Walt Disney has offered concessions in an attempt to allay EU antitrust concerns over its $71.3 billion bid for Twenty-First Century Fox Inc's entertainment assets, the European Commission said on Monday.
Disney submitted its proposal on Friday, according to a filing on the EU competition enforcer's website which however did not provide details.
The Commission extended its deadline for reviewing the deal to Nov. 11 from Oct. 19. It is now expected to seek feedback from customers and rivals before deciding whether to accept the concessions or demand more.
Disney secured approval from the US Justice Department for the deal in June on condition after agreeing to sell Fox's 22 regional sports networks.
The deal would expand Disney's unrivalled portfolio of some of the world's most popular characters, uniting Mickey Mouse, Luke Skywalker and Marvel superheroes with Fox's X-Men, ‘Avatar’ and ‘The Simpsons’ franchises.
Disney owns ABC, ESPN, Pixar, Marvel Studios and ‘Star Wars’ producer Lucasfilm, plus an array of theme parks. The Fox assets being acquired include a cable group with FX Networks, National Geographic and 300-plus international channels, plus Fox's stake in Hulu.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Turkish industrial output rises for 2nd month in a row in Oct
‘US sets China trade deal terms, but Beijing mum’
Job-crusader Powell signals long policy pause amid lower inflation
Russia central bank cuts its key interest rate to 6.25%
Chip analysts struggle to get excited about 2020 after 52% rally
Lacklustre US retail sales cast shadow on Q4 economic growth
China suffers biggest state firm dollar bond default in 20 years
EM equities hit 7-month high
Asian markets surge on trade, Brexit optimism