Disney gets conditional antitrust approval from US to buy Fox

Disney Fox deal
Walt Disney has received the US antitrust approval to buy most of Twenty-First Century Fox assets for $71.3 billion on the condition that it sell 22 regional sports networks, Reuters reported.

The Fox-Disney deal, agreed in December, still needs numerous other regulatory approvals from other countries.

Fox and Disney are preparing to go ahead with their deal. Fox has selected Disney over a competing $65 billion bid from cable operator Comcast earlier this month.

Disney last week said it was willing to divest Fox assets that generated up to $1 billion in EBITDA to get a regulatory approval for the deal.

Both Disney and Comcast want to expand their own entertainment businesses to compete with fast-growing digital rivals Netflix and Amazon.com. AT&T earlier acquired Time Warner as part of the digital media strategy.