Disney may receive exactly the card they need for a winning hand much sooner than expected. Bloomberg reports that Disney’s proposed purchase of Fox could be approved by the Justice Department in as little as two weeks.
This news comes on the heels of Disney increasing their Fox bid from $52.4B to $71.3B earlier today in order to top Comcast’s $65B proposal. Clearing U.S. antitrust regulation so soon will make Disney’s offer incredibly difficult to pass up.
Despite the approval of the AT&T-Time Warner deal, there are still concerns that regulators will object to a deal between Comcast and Fox. Even if Comcast would ultimately win in court, it’s hard to compete with an already-approved offer from Disney.
According to Bloomberg, Disney has agreed to sell off the assets that the Department of Justice might take issue with. Disney and Fox have already agreed to sell Fox’s regional sports networks.
Should this report prove to be true, it would mark a huge advantage for Disney. At the same time, however, Comcast could still try to increase their offer. They’d just have to make it big enough that Fox would be willing to gamble on a deal with Comcast clearing government regulation within a reasonable time period.