The Walt Disney Co. on Wednesday won U.S. antitrust approval for its $71.3 billion bid for Twenty-First Century Fox's entertainment assets.
Disney must first sell its 22 regional sports networks, the Department of Justice said. The company has 90 days to sell the networks, with an option to extend for another 90 days.
Fox's assets have been the target of bidding war between Comcast and Disney. Comcast offered nearly $66 billion for Fox's assets, which include the FX network and the studio that houses the X-Men franchise.
Fox has the option to consider other offers and Comcast could raise its bid.
The battle for Twenty-First Century Fox reflects a new imperative among entertainment and telecommunications firms. They are amassing ever more programming to better compete with companies such as Amazon and Netflix for viewers' attention — and dollars. The news comes on the heels of AT&T buying Time Warner for $81 billion.
"Today's settlement will ensure that sports programming competition is preserved in the local markets where Disney and Fox compete for cable and satellite distribution," said Assistant Attorney General Makan Delrahim of the Justice Department's antitrust division in a statement.
Fox declined to comment.
Rom-Com Mainstay Hugh Grant Shifts To The Dark Side and He’s Never Been Happier
After some difficulties connecting to a Zoom, Hugh Grant eventually opts to just phone instead.
"Sorry about that," he apologizes. "Tech hell." Grant is no lover of technology. Smart phones, for example, he calls the "devil's tinderbox."
"I think they're killing us. I hate them," he says. "I go on long holidays from them, three or four days at at time. Marvelous."
Hell, and our proximity to it, is a not unrelated topic to Grant's new film, "Heretic." In it, two young Mormon missionaries (Chloe East, Sophie Thatcher) come knocking on a door they'll soon regret visiting. They're welcomed in by Mr. Reed (Grant), an initially charming man who tests their faith in theological debate, and then, in much worse things.
After decades in romantic comedies, Grant has spent the last few years playing narcissists, weirdos and murders, often to the greatest acclaim of his career. But in "Heretic," a horror thriller from A24, Grant's turn to the dark side reaches a new extreme. The actor who once charmingly stammered in "Four Weddings and a Funeral" and who danced to the Pointer Sisters in "Love Actually" is now doing heinous things to young people in a basement.
"It was a challenge," Grant says. "I think human beings need challenges. It makes your beer taste better in the evening if you've climbed a mountain. He was just so wonderfully (expletive)-up."
"Heretic," which opens in theaters Friday, is directed by Scott Beck and Bryan Woods, co-writers of "A Quiet Place." In Grant's hands, Mr. Reed is a divinely good baddie — a scholarly creep whose wry monologues pull from a wide range of references, including, fittingly, Radiohead's "Creep."
In an interview, Grant spoke about these and other facets of his character, his journey... Read More