EU approves Disney's purchase of Fox assets, with conditions
Disney will have to offload 'factual' channels.
Disney's acquisition of Fox studios and TV channels is one step closer to becoming a practical reality. The European Commission has approved the mega-deal under the condition that Disney has to divest its stake in "factual channels" it controls in the European Economic Area, including History, Crime & Investigation and Lifetime. The buyout would have eliminated competition between two rivals in several countries, the Commission said.
Disney has already committed to offloading the channels, the Commission said.
The clearance follows months after shareholder approval in July and suggests it may be more a question of when the deal closes than whether it closes in the first place. If it does, it promises to shake up the media landscape in a big way by giving Disney access to huge properties (such as Avatar and X-Men) it can wield both on conventional screens and its upcoming streaming service.
