Disney's Fox deal gets China's approval

20/11/2018 6:26

        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 and received approval from European Commission
        earlier this month, subject to certain conditions.
        
        Other major U.S.-centric merger deals in the past year have
        run into trouble with Chinese regulators, against the backdrop
        of growing trade tensions.
        
        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 1 percent to $117.34, while those of Fox
        were up 3 percent at $49.60.