Mexico’s Telecoms regulator has allowed the Disney-Fox deal more time in the sale of Fox Sports in Mexico, allowing the deadline to be pushed back to May 1st, according to Yahoo Finance.
What’s Happening:
- Mexico’s telecoms regulator reportedly pushed back a deadline for the sale of Fox Sports in Mexico which was set to expire today, until May 1st.
- The sale of Fox Sports in Mexico comes as part of the terms of the Walt Disney Company’s acquisition of 21st Century Fox, with the approval of the deal subject to the sale of the Fox Sports channels due to the “considerable” accumulation of market power the acquisition would create.
- The Federal Telecommunications Institute (IFT) said that the extension does not exempt the companies from complying with various conditions set for the transaction, including the upkeep and sale of Fox Sports in Mexico as a viable business, with the divestiture process concluding by May 7th.
- Back in 2019, Televisa tried stalling the deal by winning an injunction against the merger, citing the impact on competition in Mexico, but they were unsuccessful in that effort.