The Federal Telecommunications Institute of Mexico granted a six-month extension to Disney to sell FOX Sports in the country, one of the conditions imposed to accept the merger with FOX.
Same as in Brazil, the Federal Telecommunications Institute of Mexico had placed among its conditions to accept the purchase of Twenty First Century FOX by The Walt Disney Company the sale of FOX Sports in the country.
And now, having completed the initial six months that had been given to them to do so, the IFT announced in the last hours that it has granted an extension of six more months to Disney to find a buyer.
The extension was established within the initial conditions imposed by the IFT, which said it was on the basis that it could only be used once and for a maximum period of six months.
So, Disney must now find a buyer for FOX Sports before May 1, 2020.
According to the IFT, Disney showed that it is “making the best effort to sell the Fox Sports Business in Mexico” and “has demonstrated the existence of potential buyers that require more time to know and review the business to divest.”
The obligation to sell FOX Sports is justified by the presence of ESPN within the Disney property portfolio in Mexico, which makes the company an almost monopolistic agent of television sports.
So far, they have not revealed the names of any potential buyers.
In the US, where the Department of Justice imposed the same condition, the FOX Sports networks were acquired by the Sinclair group for US$ 10.6 billion.