China Agrees To Disney’s Purchase Of Fox
Disney is one step closer to completing its purchase of 21st Century Fox as China gave it’s unconditional approval.
There had been a worry that the recent trade war between President Trump and China was going to interfere with the purchase, but that wasn’t an issue. Also unlike the European and US governments, there was no catch for the purchase. Europe wanted Disney to sell its share in its A+E channels like History and the US wanted Disney to sell over 20 regional sports channels, which Disney has begun trying to sell.
This news has helped stock prices in both companies go up. Disney has said that it expects to close the Fox acquisition during the first half of 2019. Fox is currently planning on having the company ready to be transferred by the end of the year.
Only a few more countries have to give approval for the purchase to go ahead.