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Monday, March 08, 2021

IFT extends term for sale of Fox Sports for the fifth time

The Instituto Federal de Telecomunicaciones (IFT) (Telecom regulator) granted The Walt Disney Company and 21 Century Fox a new deadline, until May 7, for Disney to sell Fox's sports channels in Mexico.

According to the IFT, "there is a notorious impossibility for Disney and Fox and the parties involved to continue in its entirety with the divestiture process and achieve the sale of Fox Sports in Mexico."

The new extension does not exempt the parties from complying with the other conditions they must meet, such as maintaining Fox Sports as a viable, competitive, ongoing and independent business from Disney and Fox, added the regulator.

Of the 23 countries in which the Disney-Fox merger was requested, in Mexico the operation was conditioned on the sale of Fox Sports' sports channels. In Argentina, the issue is in the hands of Defense of Competition.

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