Disney-Fox Inches Closer as Mexico Approves With Terms
- Regulator asks for sale of local Fox Sports channels
- Mexico’s approval clears one of the last hurdles for deal
Photographer: Nick Tre. Smith/Icon Sportswire via Getty Images
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Mexico’s telecom regulators approved Walt Disney Co.’s $71 billion purchase of 21st Century Fox Inc.’s entertainment assets, provided the companies agree to sell the Fox Sports channels and programming rights in the country.
The IFT, as the agency is known, concluded Disney’s ownership of ESPN and Fox Sports would create a concentration, leaving only Grupo Televisa SAB as the remaining competitor in that specific market. The outcome of Monday’s vote was announced on Tuesday. Another Mexican antitrust regulator, Cofece, had already approved the deal in February.