Brazilian Economic Defense Administrative Council (CADE) announced it will examine Disney-Fox merger, completed in March this year and approved in the country in February, one more time. The only condition ordered for the operation was to sell Fox Sports in the country. After the initial term imposed for the sale has expired, CADE decided to evaluate its position on the merger again.
‘Although those involved in the operation have tried to fit the decision, the sale has not been materialized yet. This way, and as established on ACC 14.3 clause, CADE has decided to review the operation’, they explained from the Brazilian regulator. ‘The measure is fair and proportional, because it allows the parties to express themselves on viable options’, said Alexandre Barreto, CADE’s President.
Together with Mexico, Brazil was one of the last countries to approve the Disney-Fox merger operation. In both countries the sale of Fox Sports was imposed as a condition for the approval, but it has not been materialized yet. In Mexico, days ago, the Telecommunications Federal Institute (IFT) decided to give a non-renewable six month-extension for selling Fox Sports in the country.