Disney confirmed the acquisition of Fox in March, but the deal has not yet been approved by the Administrative Council for Economic Defense (Cade). The agency determined on Wednesday (13) that the agreement be revised.
That’s because, in Brazil, he was conditioned to the sale of the Fox Sports channel, a requirement of Cade to avoid the creation of a monopoly. Disney, which already owns ESPN, would have an advantage over Globosat’s SporTV if it continued with Fox’s sports channel assets.
Even before the acquisition was announced, Cade’s Court had set a deadline for Disney to carry out the so-called Fox Sports divestment. As the sale was not completed, the agency will analyze the operation again.
For the president of Cade, Alexandre Barreto, the decision is the one that best addresses concerns about maintaining competition in the sector. “The measure is shown to be equitable and proportional precisely because it allows them to speak out about other viable options,” he said.
The purchase of Fox by Disney involves an investment of $ 71.3 billion to obtain 21st Century Fox, which includes studios 20th Century Fox, Fox Searchlight Pictures, Fox 2000 Pictures, Fox Family and Fox Animation.
Disney also became the owner of television producers 20th Century Fox Television, FX Productions and Fox 21; Fox, National Geographic and FX subscription channels; and the Star India subscription channel network.
Fox’s open channels in the United States, as well as Fox News, Fox Business and Fox Sports, FS1, FS2, Fox Deportes and BTN sports wake up.