IFT denies new deadline for Disney to sell Fox Sports in Mexico and final term is today

Mexican Instituto Federal de Telecomunicaciones (IFT) has officially announced this last Thursday that it denied having granted The Walt Disney Company an additional term to sell Fox Sports operations in the country, a necessary requirement to allow the Disney-Fox merger, which took place in March 2019. Taking into account this decision, and according to what had been stipulated, the deadline for the transaction to be completed expires today, Friday, May 7th.

‘The IFT decided not to attend The Walt Disney Company’s (Disney) and Twenty-First Century Fox, Inc. request for an additional deadline to sell the Fox Sports business in Mexico, and that period ends on May 7th, 2021’, they reported from the Mexican entity.

IFT ordered The Walt Disney Company in March 2019 to  sell Fox Sports operations in Mexico in order to complete the Disney-Fox merger, as it considered that the merger would lead to a high level of audience concentration, since both Fox Sports and ESPN would be owned by Disney. In Brazil, the Consejo Administrativo de Defensa Economica (CADE) approved Fox acquisition by Disney in May 2020, without the requirement to sell Fox Sports in that country.