The US Justice Department has given its approval for Disney to purchase the bulk of 21st Century Fox’s assets.
However, under the terms of the settlement Disney will be required to sell off 22 of Fox’s regional sports networks. Before the deal gets the final approval it must first go before a Federal judge and will also need to be voted on by Fox’s board.
Last week, the board of 21st Century Fox accepted an increased cash or shares offer for the company’s assets that include Sky in the UK, Germany and Italy and Star in India.
The improved $71.3 billion offer tops the $65 billion bid made earlier this month by Comcast.
It’s not yet known whether Comcast will look to further increase its offer.
