The latest hurdle in the multibillion-dollar Disney-Fox merger was cleared earlier this week after Mexico’s Federal Telecommunications Institute (IFT) finally signed off. Thanks to the IFT’s unanimous vote to approve the deal, the path is clear for the companies to complete the merger by March 20.
The more than $70 billion merger would see Disney purchase 21st Century Fox’s film and TV assets. Approval was previously contingent on Fox divesting its Fox Sports channels and all the assets of that business, according to Reuters. Fox’s regional sports networks, worth more than $15 billion combined, are currently on the market, according to Deadline.
“As the accumulation (of market power) is considerable, the finding was that measures of conduct would not be enough, so structural measures were chosen, as occurred in other parts of the world,” the IFT says in a statement.
Disney says that 21st Century Fox shareholders have until Thursday to choose how much cash and Disney stock they’ll receive in the transaction. Fox shareholders are set to receive a cash-stock combo worth $38 per share in the deal.
Meanwhile, as the companies and regulatory agencies hash it all out, some projects are in limbo, such as Doctor Doom.
Photo: Fox
