Mexico wanted reassurance that Disney would sell off Fox's regional sports networks (RSN's) to approve the merger.
Also part of the 21st Century Fox acquisition are its storied television creative units, Twentieth Century Fox Television, FX Productions and Fox21, which have brought The Americans, This Is Us, Modern Family, The Simpsons and so many more hit TV series to viewers across the globe. Existing 21st Century Fox shareholders will have the option to accept Disney shares or cash out.
In addition, Disney is also receiving 21st Century Fox's investment in Hulu, giving them the majority stake in the streaming platform. The deal is rich in worldwide television assets, including in Latin America and India. "Eastern Time on March 20, 2019, subject to the satisfaction or waiver of the conditions to the consummation of the Acquisition set forth in the documentation governing such transaction".
The process has taken almost two years to close.
Analysts expect that Disney will lay off at least 5,000 people - some on the Fox side, others on the Disney side - as a result of consolidation. Visit MarketWatch.com for more information on this news. And even after it is all said and done, it will still be a while before Fox's properties can fall under the Disney umbrella. Peter Rice, one of Murdoch's longtime lieutenants, will become chairman of the Burbank-based television group, reporting to Iger. Above all, Disney's ownership of both ESPN and Fox Sports would create a concentration that would leave Grupo Televisa as the only remaining competitor in that market. The Fox executives will report to Disney Studios Chairman Alan Horn.