Business
09:51, 20-Nov-2018
Disney's Fox deal gets China's approval
Updated
09:42, 23-Nov-2018
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Walt Disney Co on Monday received unconditional approval from China for its deal to buy Twenty-First Century Fox's entertainment assets, clearing one of the last major hurdles for the deal to go through.
Disney agreed to purchase Fox's film and television assets for 71.3 billion US dollars and received approval from European Commission earlier this month, subject to certain conditions.
The Fox assets being acquired include a cable group with FX Networks, National Geographic, and 300-plus international channels, plus Fox's stake in Hulu.
The deal would expand Disney's unrivalled portfolio of some of the world's most popular characters, uniting Mickey Mouse, Luke Skywalker and Marvel superheroes with Fox's X-Men, “Avatar” and “The Simpsons” franchises.
Disney owns ABC, ESPN, Pixar, Marvel Studios and “Star Wars” producer Lucasfilm, plus an array of theme parks.
Disney shares rose one percent to 117.34 US dollars, while those of Fox were up three percent at 49.60 US dollars.
Source(s): Reuters