Despite reports that the highly-anticipated Disney-Fox deal would be closing the first part of this year, the merger has been met with further resistance from regulatory bodies in Brazil. According to a new report from Bloomberg, Disney CEO Bob Iger recently flew to Brazil to meet with regulators in an attempt to calm any concerns.
The report reveals Iger left meetings without an agreement in place. Cade — Brazil's anti-trust regulator — couldn't reach a decision on whether or not Disney had to sell one of its national sports networks — ESPN and Fox Sports — in the market.
Brazil isn't the only loose end Disney needs to tie up before the deal can close — the merger has yet to receive approval in Mexico and the conglomerate has yet to find a buyer for the 22 regional sports networks, a requirement put forth by the United States Department of Justice.
It's been said that Cade has to make a decision whether or not to approve the deal by the "legal deadline" set for March 17th. Their next meeting is currently scheduled for February 27th.
Just last week, Rupert and Lachlan Murdoch — chairmen of Fox — released a quarterly financial report that stated significant progress in the deal had been made.
"Our company delivered another strong quarter of financial results, underpinned by distribution and advertising revenue increases at our domestic cable networks and broadcast businesses and the substantial gain on our sale of Sky. These results reflect our continued commitment to excellence in all aspects of our business. There has also been significant progress regarding the transaction with Disney and the spin-off of Fox Corporation including the effectiveness of the Form 10."
Last month, Disney revealed in a filing with the SEC that they expected the deal to close in June. As executives and fans alike wait for the deal to close, Marvel Studios boss Kevin Feige is in a flying in a holding pattern as he waits for the deal to close.
"Not until we're given the word," Marvel Studios president Kevin Feige said last year when asked about plans for Fox's Marvel characters. "I have vague dreams and vague ideas. But right now, bringing to life the 10,000-plus characters that Marvel fully controls is what the gameplan is."
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