Mediapro makes an offer to buy Fox Sports in Brazil

As reported by UOL through the journalist Ricardo Feltrin, the Spanish company Mediapro made a formal offer to buy Fox Sports in Brazil, which belongs to The Walt Disney Company. The transaction’s value has not been reported up to now, but, according to the journalist, ‘the market estimates that Fox Sports channels (in Brazil) are valued at USD 200 million’.

Mediapro’s offer took place days before the Brazilian Economic Defense Administrative Council (Cade) decided to review its position regarding the Disney-Fox merger in the country. The entity had already extended the merger term for both companies, with the condition of selling Fox Sports, for the operation to be approved.

In Latin America, Brazil and Mexico have not approved the merger yet, as regulators (CADE and the Telecommunications Federal Institute -IFT-) expect Fox Sports to be sold in each country. In Mexico, the IFT extended until May 1st, 2020 the deadline to sell Fox Sports there.

Mediapro is responsible for managing LaLiga’s (Spain) international TV rights, and hold  the rights of the Uefa Champions League, Uefa Europe League and Copa Libertadores for that country, and other sporting events. Recently, the company was selected host broadcaster for the last Copa Libertadores Final, played between Flamengo (Brazil) and River Plate (Argentina).