Monday 15 October 2018 5:17 pm

Disney moves to pacify EU regulators with concessions on $71bn Fox deal

Follow August Graham

Walt Disney has made commitments it hopes will please European regulators, allowing its acquisition of Twenty-First Century Fox to go ahead.

The concessions, filed Friday with the European Commission, will be considered by EU antitrust authorities, before a decision is reached by 6 November.

Read more: Fox and Disney to sell minority Sky stake to Comcast

The team, run by competition commissioner Margrethe Vestager, will be asked to give a thumbs up to the $71bn (£54bn) deal, which sees the Walt Disney Company take over Twenty-First Century Fox.

Disney will get Fox’s film and television studios and its cable and international television business.

However, Fox will split off the Fox Broadcasting network and stations, and its news, sports and business channels.

The subsidiaries will be merged into one company and spun off to Fox shareholders.

The commission has not said what concessions Walt Disney made.

Read more: Murdoch quits Sky as Comcast officially confirms takeover of media titan

Fox kicked off bidding for Sky in 2016, however eventually lost the deal to a £30bn offer from Comcast last month.

In October 2016, US telecommunications giant AT&T agreed a massive $85bn takeover of Time Warner, including HBO, CNN and major film franchises.