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Disney's $71.3 billion takeover of Fox gets Justice Department's OK

But there are conditions.

Roger Cheng Former Executive Editor / Head of News
Roger Cheng (he/him/his) was the executive editor in charge of CNET News, managing everything from daily breaking news to in-depth investigative packages. Prior to this, he was on the telecommunications beat and wrote for Dow Jones Newswires and The Wall Street Journal for nearly a decade and got his start writing and laying out pages at a local paper in Southern California. He's a devoted Trojan alum and thinks sleep is the perfect -- if unattainable -- hobby for a parent.
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Roger Cheng
harry-hart-kingsman

The Kingsman franchise is one of Fox's core properties. 

 Twentieth Century Fox

Walt Disney has cleared another hurdle in its bid to buy 21st Century Fox's entertainment assets. 

The US Justice Department said Wednesday that it had approved the deal on the condition that Disney divest 22 regional sports networks. Disney has agreed.

The entertainment giant is closer to securing the Fox assets after Comcast made an unsolicited $65 billion all-cash bid for them. A week ago, Disney returned with an amended agreement with Fox for $71.3 billion, split evenly between cash and stock. 

Fox is home to marquee franchises like X-Men, Deadpool, Kingsmen and Planet of the Apes; animated films like Ice Age; and TV assets like The Simpsons and the edgy network FX. Disney's raising of the ante underscores the increasing value of content, following AT&T's $85 billion purchase of Time Warner. 

Fox's wide range of television and film assets could feed into Disney's streaming services, including a planned rival to Netflix sometimes referred to as Disneyflix. Fox and Disney each own a 30 percent stake in Hulu. 

Disney and Fox didn't immediately have a comment. Comcast declined to comment.

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