Disney’s acquisition of key assets from 21st Century Fox could be finalized by March or February of this year. Earlier reports indicated the deal would close by the end of January. However, a new report from Variety suggests the deal could close by early March or, potentially, early February.
The deal is also causing Disney to relinquish ownership of many regional sports networks. This clause was made part of the deal in 2018 after Disney reached an agreement with the Justice Department, clearing the way for the $71.3 billion transaction.
21st Century Fox, who will morph into the new entity Fox Corp. following the transaction, issued a Securities and Exchange Commission filing, stating it will not bid for any of those sports networks, or any assets, freed up by the deal.
“Fox confirms that it does not intend to bid for any of the Fox regional sports networks that Disney (or any entity operating on its behalf) may sell as required by the consent decree with the U.S. Department of Justice,” Fox said in its filing.
Following the deal, Disney will regain the rights to many of Marvel’s most popular characters, including the Fantastic Four and X-Men. How the likes of Deadpool and the X-Men will be integrated is currently unknown, as Marvel Studios President Kevin Feige has said the company won’t be thinking about that until the deal is complete. However, Feige does expect to be able to use these characters within the next six months.
Source: Variety
