The multi-billion dollar deal Disney is offering to buy 21st Century Fox gets the “ok” from the government.
The Justice Department’s Anti-Trust Division has approved the $71B deal between the two studios. The decision comes after Disney upped its offer (originally $52B) to retrieve ownership of Fox’s movie studio, sports networks and cable channels.
As part of the settlement, Disney will have to sell off 22 of Fox’s regional sports networks.
Fox’s Executive Chairman Rupert Murdoch is expected to keep a handful of properties, including Fox News and the Fox Broadcasting Network, which would be segued into a new company.