Even with the issue of a potential bidding war with Comcast still unsettled, Disney has received approval from the U.S. Justice Department for its purchase of most of the 21st Century-Fox assets, CNN reports.
The decision comes as part of a settlement between Disney and the Justice Department over antitrust concerns, and comes with one major stipulation: Disney must sell off 22 of Fox’s regional sports networks.
“Disney’s purchase isn’t yet final,” CNN notes. “The settlement must first be approved by a federal judge, and Fox’s shareholders also have to vote in favor of the deal.”
Disney issued a statement saying it is pleased to resolve the Justice Department’s “limited potential concerns.”
“21st Century-Fox is the next big prize as the media industry consolidates to survive against competitors such as Netflix and Facebook,” CNN notes. “If Disney closes the deal, it will get Fox’s movie studio along with cable channels like FX and National Geographic. Disney would also get Fox’s stake in the streaming service Hulu, along with its stake in the European broadcaster Sky.”