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Tuesday, June 18, 2019  Spokane, Washington  Est. May 19, 1883
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News >  Business

Disney-Fox deal gets China’s approval

FILE - In this Aug. 8, 2017, file photo, the Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. The Walt Disney Co. reports earnings Thursday, Nov. 8. (AP Photo/Richard Drew, File) ORG XMIT: NYBZ474 (Richard Drew / AP)
FILE - In this Aug. 8, 2017, file photo, the Walt Disney Co. logo appears on a screen above the floor of the New York Stock Exchange. The Walt Disney Co. reports earnings Thursday, Nov. 8. (AP Photo/Richard Drew, File) ORG XMIT: NYBZ474 (Richard Drew / AP)
By Ryan Faughnder Los Angeles Times

Walt Disney Co. said it has received unconditional approval from Chinese regulators for its blockbuster deal to buy much of Rupert Murdoch’s 21st Century Fox Inc., clearing another key hurdle for the completion of the $71.3 billion purchase.

Burbank-based Disney has been pushing for international regulators’ green lights for its pending acquisition of Fox, which includes Fox’s movie and television studios and cable channels including FX and National Geographic.

The deal secured regulatory approval in the United States after Disney agreed to divest Fox’s 22 regional sports networks. The European Union in Brussels said this month that it had conditionally approved the deal, on condition of Disney selling its stake in the History, Lifetime, Crime + Investigation and Blaze television channels in Europe.

China is a key market for the U.S. entertainment industry and Disney in particular, representing a growing share of the global box office and theme park industry. The company has made successful inroads in the world’s most populous nation with its Shanghai Disney Resort, which opened in 2016.

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