The European Commission said on Tuesday it approved Walt Disney Company's acquisition of parts of Twenty-First Century Fox Inc. under the EU's merger law. The commission said in a statement its approval is conditional "on full compliance with commitments" by Disney. The acquisition includes Fox's film and television studios, cable, and international television businesses.
The EU regulator determined that the agreement between the two companies would not violate the EU competition law as Disney will still have notable competitors on the EU market after the merger. However, Brussels said the original proposed transaction would violate competition of suppliers of "factual channels" in a few member states and asked Disney to give up its interest in those channels in the European Economic Area (EEA). The company committed to eliminate common Disney and Fox activities in the area of concern.
In June, Disney and Fox reached the final agreement on the acquisition of Fox's assets for $71.3 billion, outbidding Comcast's offer for the company.
