EU approves Disney's acquisition of Fox parts, subject to conditions
The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of parts of Fox (FOXA) by Disney (DIS), both U.S. based global media companies. The decision is conditional on full compliance with commitments offered by Disney. The proposed transaction would combine Disney and parts of Fox, including its film and television studios and its cable and international television businesses. The Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network are not part of the transaction. To address the Commission's competition concerns, Disney committed to divest its interest in all factual channels it controls in the EEA, namely: History, H2, Crime & Investigation, Blaze and Lifetime channels. These channels are currently controlled by A+E Television Networks, which is a joint venture between Disney and Hearst. The commitments fully remove the overlap between Disney's and Fox's activities in the wholesale supply of factual channels in the EEA. Therefore, the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments.