×
You will be redirected back to your article in seconds

Disney Gets Approval From Chinese Regulators for Fox Deal

Chinese regulators have approved the Walt Disney Company’s $71.3 billion acquisition of much of 21st Century Fox’s film and television assets, clearing an important hurdle for the blockbuster deal between the media giants.

The news goosed the stock of both companies, sending Disney shares up .77% to $117.08 and lifting Fox shares up more than 3% to $49.63. Disney has said that it expects its purchase of key Fox brands such as NatGeo, FX, and 20th Century Fox to close in the first half of 2019. Disney said the deal received “unconditional approval.”

There had been some concern in investment circles that President Donald Trump’s escalating trade war with China could cause the powers that be in Beijing to throw a wrench in the antitrust approval process, slowing a pact that many expect will transform the entertainment landscape. The deal will give Disney access to key film brands such as Avatar and X-Men, as well as TV hits such as “Atlanta,” “It’s Always Sunny in Philadelphia,” and “American Horror Story.” Fox’s remaining assets, which include Fox News and Fox Broadcasting, will be spun off into a new independent company.

China has been a key market for Disney. In 2016, the company opened Shanghai Disney Resort, its first theme park in mainland China. At the same time, China has become a key source of box office revenue, emerging as the second biggest market for film, and helping propel the grosses of recent Disney releases such as “Black Panther” and “Avengers: Age of Ultron.”

CNBC first reported that the deal had been approved by Chinese regulators.

More Film

  • Nona

    Film Review: 'Nona'

    Twenty years and 12 features down the line, it’s still hard to peg the directorial sensibility of Michael Polish, with or without the presence of brother Mark as frequent co-writer and actor. His output has been all over the place, from early Lynchian quirkfests to the very middle-of-the-road inspirational dramedy “The Astronaut Farmer,” not to [...]

  • Pawel Pawlikowski "Cold War"

    Pawel Pawlikowski's 'Cold War' Wins for Best Film, Director at European Film Awards

    “Cold War,” Pawel Pawlikowski’s black-and-white romance set in the 1950s, scooped the prizes for best film, director and screenplay at the 31st edition of the European Film Awards on Saturday. “Cold War” star Joanna Kulig also won the award for best actress. Marcello Fonte, the star of Matteo Garrone’s “Dogman,” won for best actor. Armando Iannucci’s [...]

  • The Favourite Bohemian Rapsody Star is

    The Best Movie Scenes of 2018

    When we think back on a movie that transported us, we often focus on a great scene — or maybe the greatest scene — in it. It’s natural. Those scenes are more than just defining. They can be the moment that lifts a movie into the stratosphere, that takes it to the higher reaches of [...]

  • Spider-Man: Into the Spider-Verse

    Box Office: 'Spider-Man: Into the Spider-Verse' Soars Toward $35-40 Million Debut

    “Spider-Man: Into the Spider-Verse” is swinging into theaters on a high note. Sony-Marvel’s latest output is launching to $42 million from 3,813 North American locations in its debut, though other more conservative estimates place that number at $35.5 million. The animated superhero story picked up $12.6 million on Friday, easily leading the pack for the weekend. [...]

  • Ventana Sur : Cinema226 Closes Four

    Cinema226 Announces Four Intl. Co-Productions, Hints at More (EXCLUSIVE)

    Mexico’s Cinema226, run by Marco Antonio Salgado and Sam Guillén, is driving into a raft of Mexico, Argentina and Spain co-productions, playing off the current vibrancy of Mexican film production funding and distribution outlets. Among the projects are titles which have been standouts at Ventana Sur’s Blood Window, the next film by Mexico-based Argentine filmmaker [...]

  • Ventana Sur Debates Gender Parity in

    Ventana Sur Debates Gender’s 50/50 in 2020 for Argentina Film Industry

    BUENOS AIRES — Despite recent gains, namely the equality pledge towards 50/50-2020 signed at the Mar del Plata Film Festival on Nov. 12, producer Magalí Nieva, pointed out that no representative from INCAA was present following the apparent resignation of its vice-president Fernando Juan Lima. “We are left without an interlocutor to discuss gender policies [...]

  • Ventana Sur Rocks with Sales, Mass

    Ventana Sur Rocks with Sales, Mass Attendance, Structural Growth

    BUENOS AIRES — Celebrating its 10th anniversary with a huge hike in attendance to over 4,000 accredited delegates, the 2018 Ventana Sur will go down in history on multiple counts: Sales and pick-ups on movies which combined social comment and entertainment value, increasingly the new foreign-language movie standard; new sections, led by a Proyecta co-production [...]

More From Our Brands

Access exclusive content