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

[brodie999]

Good News: Brazil is about to approve the deal after concessions were made!!

After a healthy wait, Disney's (DIS +0.2%) $71B deal to buy media assets from Fox (FOX +0.2%, FOXA +0.1%) is essentially cleared for approval tomorrow in Brazil after key concessions were accepted, Bloomberg reports.
Disney agreed to antitrust regulator CADE's demands to sell not only Fox sports but also all the broadcast rights, according to the report.
A similar approval is on tap for Mexico on the same terms.
Fox Sports market power was key to the approval because of broadcast rights to the Copa Libertadores football competition, and the fact that a combined Disney/Fox would leave only one other cable competitor to ESPN.

 

[Darkprime]

 

[Quinnmac000]

Hate asking but got a source? This reddit post from a year ago claims otherwise. Apparently Fox have a 6 year window from 2015 to make a new Dragonball movie. Which means Disney would have a 2 year window to get a movie off the ground we dont know the exact details so maybe all they need is to have a writer working on a dragonball script to keep the rights who knows? or they just let it return to the original owner.

Dude's wrong.

Fox distributed but did not produce the two animated movies. I said Toho but it should be Toei who actually own the franchise. US distribution rights for Dragon Ball are with Funimation.

Dragonball films are distributed in Japan by Toei Company in cooperation with 20th Century Fox, while its international distribution rights are owned by 20th Century Fox. Funimation bought the rights for Distribution in the United States and Canada, as well other release and broadcast rights

 

[Slpy3270]

A shame they had to let the broadcasting sports rights go, but at least they still have ESPN Brazil and ESPN Mexico. Plus they'll be getting all the other Latin American Fox Sports networks in the other countries, and the FS networks in Europe, MENA and Asia, so at least ESPN will be getting something from this deal. And as I've said before, something is better than nothing.

 

[Lafayettecalboy]

A shame they had to let the broadcasting sports rights go, but at least they still have ESPN Brazil and ESPN Mexico. Plus they'll be getting all the other Latin American Fox Sports networks in the other countries, and the FS networks in Europe, MENA and Asia, so at least ESPN will be getting something from this deal. And as I've said before, something is better than nothing.

It's because both Brazil and Mexico threatened to block the deal unless Disney agrees to the divestment.

 

[Slpy3270]

It's because both Brazil and Mexico threatened to block the deal unless Disney agrees to the divestment.

Thanks for the input, Captain Obvious.

 

[Darkprime]

They really should have just agreed to sell them back in December as soon as they saw they would be a roadblock. The deal probably could have closed in January had Brazil approved it in December. Oh well. Closing In March is still earlier than expected.

 

[SlyCoug]

I hope we really will hear about Mexico tomorrow. El Economista reports that Mexico will make a decision, but no other outlets are saying anything. Would be great if the deal could close next week.

 

[Darkprime]

I hope we really will hear about Mexico tomorrow. El Economista reports that Mexico will make a decision, but no other outlets are saying anything. Would be great if the deal could close next week.

I thought I read Mexico's decision wont be made public? If the deal closes soon after Brazil approval well know Mexico approved it.

 

[Darkprime]

Disney-Fox Deal Passes in Brazil With Divestment Accord

Walt Disney Co.’s $71 billion purchase of 21st Century Fox Inc.’s entertainment assets is expected to win Brazilian approval now that the companies have agreed to sell the Fox Sports channel and program rights in the country, according to a person close to the situation.

The regulatory agency Cade concluded Disney’s ownership of ESPN and Fox Sports would leave just one other competitor and give the company too much market power. The parties agreed to the sale to get the greenlight, said the person, who asked not to be identified because discussions aren’t public. The agency is expected to rule on Wednesday.

Brazil was among the last major holdouts on the deal. Disney 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 sports broadcasting. The company also will sell its 50 percent stake in A+E Networks in Europe to satisfy regulators.

The sports networks were the only part of the deal that sparked regulatory concern in Brazil. During the two months in which the deal was before Cade’s board, the companies tried to negotiate milder remedies. Disney Chief Executive Officer Bob Iger traveled to Brazil this month for a meeting.

In Brazil, Fox Sports’ broadcast rights include the South American soccer competition, known as Copa Libertadores. The decision was also discussed with Mexican authorities, where regulators are said to seek similar remedies, the person added.

Disney-Fox Deal Passes in Brazil With Divestment Accord

Walt Disney Co.’s $71 billion purchase of 21st Century Fox Inc.’s entertainment assets was approved in Brazil after the companies agreed to sell the Fox Sports channel and program rights in the country.

www.bloomberg.com

 

[MisterPenguin]

Disney-Fox Deal Passes in Brazil With Divestment Accord

Walt Disney Co.’s $71 billion purchase of 21st Century Fox Inc.’s entertainment assets was approved in Brazil after the companies agreed to sell the Fox Sports channel and program rights in the country.

www.bloomberg.com

I was kinda hoping the article could settle for me the dreadful feeling that I'm really a robot.

 

[Darkprime]

The deal will close in the middle of march!

Officials at CADE (whose translated full name is The Administrative Council for Economic Defense) are said to now be satisfied after Disney offered some of the concessions they had requested. Once their OK is secured, a final closing period of about 10 days will begin as the final Ts are crossed and Is dotted, a source with knowledge of the regulatory process tells Deadline. That would mean an official closing in mid-March, which is in line with initial forecasts even if it is later than it appeared things would conclude by the last few weeks of 2018.

Disney-Fox Deal Nears Final Approval After Progress In Brazil And Mexico

Regulators in Brazil appear to be poised to approve Disney's $71.3 billion deal to buy most of 21st Century Fox on Wednesday.

deadline.com

 

[SlyCoug]

The deal will close in the middle of march!

So if the approximately 10-Day period is supposed to begin tomorrow, I assume that would mean that the deal should close either the end of next week or the beginning of the following?

I know Disney has to get final approval from a district judge for their agreement with the DOJ as well. I wonder when that will take place?

 

[Darkprime]

So if the approximately 10-Day period is supposed to begin tomorrow, I assume that would mean that the deal should close either the end of next week or the beginning of the following?

I know Disney has to get final approval from a district judge for their agreement with the DOJ as well. I wonder when that will take place?

Yes I was wondering about that. So they do indeed have to go back to court? is that once it closes or will that happen during the 10 day period?

 

[Twilight_Roxas]

On Twitter there some jerk who doesn't want Disney to acquire Fox.

 

[Darkprime]

So when it closes next month will have taken 15 months in total. Thats insane. Just within that 18 month window that Disney originally gave in December 2017.

 

[Crossfire]

So, March 8 is the earliest close date if the deal is approved on the 27?

 

[bartholomr4]

Yes I was wondering about that. So they do indeed have to go back to court? is that once it closes or will that happen during the 10 day period?

They may have to file with the court, but will not likely have to go back in front of a judge. They have 90 days after the closure to execute their sale process. They can also go to the Judge and ask for an extension of the sales process, or what has been reported, decide to take the 22 RSN's public instead of selling them.... Shouldn't affect the closing timeframe....

 

[Slpy3270]

CADE officially approves Disney-Fox merger with 4-2 vote, under condition that Disney sell off Fox Sports Brazil, including sports rights, employees, and all other assets (ESPN Brazil unaffected). Deadline for sale undisclosed.



If Disney fails to sell the sports channels by the deadline, CADE could review the transaction again, or force Disney to pay a fine. The big question: who will buy these channels?

According to CADE, nine companies (!!!) are interested in the properties.

 

[Lafayettecalboy]

@Slpy3270 With these 9 companies there could be a similar bidding just like the rsns in America.