News Disney and Fox come to terms -- announcement soon; huge IP acquisition

[Lafayettecalboy]

I personally wish that foreign regulators would not have to approve mergers of American companies. What is their business?

 

[MisterPenguin]

I personally wish that foreign regulators would not have to approve mergers of American companies. What is their business?

Because those American companies can have a monopoly in their own country.

We wouldn't let a foreign company buy up and run as a monopoly all our country's telecommunications, e.g.

 

[mab7689]

Assuming CADE approve next week, the mystery now is the IFT in Mexico, with them not publically disclosing their ruling. If it closes soon after CADE then we know it's been granted but if not then it's another holdup.

 

[mab7689]

Exchange Offers and Consent Solicitations extended to March 5th

The Walt Disney Company Announces Extension of Exchange Offers and Consent Solicitations for 21st Century Fox America, Inc. Notes

BURBANK, Calif.--(BUSINESS WIRE)--Feb 21, 2019--The Walt Disney Company (“TWDC”) (NYSE: DIS) announces the extension of the expiration date of the offers to exchange (the “Exchange Offers”) any and all outstanding notes (the “21CFA Notes”) issued by 21st Century Fox America, Inc. (“21CFA”) for up to

www.apnews.com

 

[SlyCoug]

Exchange Offers and Consent Solicitations extended to March 5th

The Walt Disney Company Announces Extension of Exchange Offers and Consent Solicitations for 21st Century Fox America, Inc. Notes

BURBANK, Calif.--(BUSINESS WIRE)--Feb 21, 2019--The Walt Disney Company (“TWDC”) (NYSE: DIS) announces the extension of the expiration date of the offers to exchange (the “Exchange Offers”) any and all outstanding notes (the “21CFA Notes”) issued by 21st Century Fox America, Inc. (“21CFA”) for up to

www.apnews.com

So at least another week on the merry go round. Sounds like they we are now waiting on Mexico.

 

[mab7689]

The screenshot is automatically translated from a Portuguese language website, and is reportedly relaying from Bloomberg that Disney have agreed to sell Fox Sports to get approval in Brazil and Mexico. This has come about within the past hour.

 

[Darkprime]

Exchange Offers and Consent Solicitations extended to March 5th

The Walt Disney Company Announces Extension of Exchange Offers and Consent Solicitations for 21st Century Fox America, Inc. Notes

BURBANK, Calif.--(BUSINESS WIRE)--Feb 21, 2019--The Walt Disney Company (“TWDC”) (NYSE: DIS) announces the extension of the expiration date of the offers to exchange (the “Exchange Offers”) any and all outstanding notes (the “21CFA Notes”) issued by 21st Century Fox America, Inc. (“21CFA”) for up to

www.apnews.com

Looks like Variety was right with the deal closing in March.

 

[Darkprime]

Bloomberg article is up.

Walt Disney Co., on the brink of sealing its $71 billion takeover of 21st Century Fox Inc. entertainment assets, will agree to sell the Fox Sports channels in Brazil and Mexico to win regulatory approval there, according to people close to the discussions.

The companies earlier this week accepted the divestment recommendation of Brazil’s antitrust regulator, and at a meeting next week they’ll present an agreement to pursue the sale, said two of the people, who asked not to be identified because the discussions aren’t public. Competitors have already shown interest in the assets, said a third person.

In Mexico, Disney expects the country’s telecommunications regulator to require the sale of Fox Sports and is willing to agree to it, according to one person. In both countries, the final details of the agreements are still under discussion and it’s possible the situation could change, the people said. It’s unclear, for example, whether regulators will require the companies to sell the rights to sports programming, such as soccer games, in addition to the channels themselves.

The companies didn’t immediately respond to requests for comment, and the regulators declined to comment.

Home Stretch
The two countries are among the last major hurdles for the deal. Disney has agreed to sell Fox’s 22 regional sports networks in the U.S. after the Justice Department said the ownership of those channels and ESPN would give the company undue influence in the sports broadcasting business. The company also will sell its 50 percent stake in A+E Networks in Europe to satisfy regulators there.

Disney faced opposition to the merger from Brazil’s Globo Comunicacao e Participacoes SA, which raised concerns over concentration in sports networks. Mexico’s Grupo Televisa SAB, the world’s largest producer of Spanish-speaking content, and Globo would be their countries’ sole competitors in sports networks if the divestments weren’t made, said the people. The U.S. Justice Department’s decision to demand divestitures also influenced the Brazilian and Mexican regulators, said one person.

Disney Chief Executive Officer Bob Iger failed to get a better deal after flying to Brazil to meet the antitrust board. As a result, the companies decided hanging on to the sports channels wasn’t worth jeopardizing the takeover, said two of the people.

Mexico’s antitrust regulator also looked into the deal, specifically examining movie distribution and merchandise matters, and gave it a green light earlier this month.

Disney to Accept Divesting of Fox Sports in Brazil and Mexico

Walt Disney Co., on the brink of sealing its $71 billion takeover of 21st Century Fox Inc. entertainment assets, will agree to sell the Fox Sports channels in Brazil and Mexico to win regulatory approval there, according to people close to the discussions.

www.bloomberg.com

 

[Slpy3270]

Good decision IMO. The last thing Disney wants is to get into a legal battle with potential political implications that could affect their standing in those countries. Besides, since the sale will include (presumably) all other Fox Sports networks in Europe and India (especially Star Sports, which I think was part of ESPN at one point), markets where the deal has already been cleared, ESPN will at least get something from the deal, and something is better than nothing here.

That being said, I wonder if regulators will let Disney keep some of the sports rights to Fox Sports programs, as well poach some of their talent away, just as a consolation prize. It isn't totally out of the question since Universal Music Group got to keep the Beatles recordings even though they were required to spin-off EMI's UK units when they bought that company years ago.

 

[Darkprime]

Basically reading between the lines Globo the current sports monopoly in Brazil threw a fit because Disney would have been an actual competitor to its current monopoly on sports broadcasting.

 

[bartholomr4]

Bloomberg article is up.


Wow.... I guess by forcing the sale, they believe a different owner will not charge a fee to watch the sports program. Or by just selling the channels, but not the programming rights, that Disney can’t stand up an ESPN 3, ESPN 4 or ESPN 5 quickly to broadcast the sports on these new channels. I get the politics here, but don’t understand the logic of a new party addressing their primary concern, which is poor people in Brazil and Mexico won’t be able to watch soccer because a fee is being charged. The new owner will want to get a return for their investment, and I guess charge the fee anyway.....

 

[Darkprime]

Whatever the case its not Disney's concern what the new owner will do lol all Disney cares about is getting approval and thats the good news here.

 

[brodie999]

Man, If the Disney-Fox deal is finalised in early-to-mid March, I'd actually be surprised if they did late post-production reshoots to throw the X-Men and the Fantastic Four into Endgame at the last minute, thus allowing them to make a full appearance just like Spider-Man did in Captain America: Civil War when the deal to bring him into the MCU was made.

 

[LieutLaww]

There is 0 point in adding the X-Men or the FF into Endgame as Disney wont be doing anything with them for a while and after Dark Phoenix they will probably doing a full reboot.

 

[brodie999]

There is 0 point in adding the X-Men or the FF into Endgame as Disney wont be doing anything with them for a while and after Dark Phoenix they will probably doing a full reboot.

Actually, according to this Hollywood Reporter rumour, Marvel won't be allowed to have any teases in Endgame, yes. But if we're to catch a glimpse of a silver surfboard(hinted to be the Silver Surfer, it'd probably be the most cheer-work and thematically fitting final moment since Nick Fury first told Tony Stark he joined a big universe.

 

[Indy_UK]

I think they'll set on the Fox/Marvel characters for a couple of years at least before integrating them. They'll already have a story mapped out after Endgame

 

[Lafayettecalboy]

X-Men and F4 in the MCU I am glad it is going to happen.

 

[Twilight_Roxas]

Unless the current Deadpool films gets added to the MCU because no one plays Deadpool better than Ryan Reynolds.

 

[Darkprime]

I think deadpool will get softrebooted it will still be Reynolds but it will be toned down and the previous films wont be MCU canon.

 

[Twilight_Roxas]

There's already a Deadpool 3 in the works.