www.cbr.com

Disney's Acquisition of Fox Takes Another Major Leap Forward

Disney's slow acquisition of 21st Century Fox has had many hurdles, but little by little, the two studios are moving toward the final deal. The most recent hurdle cleared involved business with the country of Brazil.

According to Variety, Disney had to deal with the antitrust agency in Brazil concerning the Fox Sports cable television network. Because Disney also owns ESPN, Brazil believed that Disney owning Fox Sports gave it too much power over deals concerning sports rights.

RELATED: Disney-Fox Deal Expected to Close in March

As a result, Disney agreed to sell the Fox Sports channel that serves the largest South American sports market, and the conditional approval of the Disney acquisition of Fox should happen on Wednesday. This is despite Brazilian regulators' claims that Disney having both ESPN and Fox Sports could leave the pay-TV sports sector more concentrated and lead to a reduction in quality and an increase in pricing for consumers.

The deadline for the sale is reportedly confidential. However, after this, Disney might have to make similar concessions in Mexico, which also had concerns about ESPN and Fox Sports both being under the House of Mouse.

The sale of Fox Sports will ensure there are equal competitors for sports between ESPN, SporTV and the company that buys Fox Sports.

RELATED: Disney's Fox Acquisition Deal Secures Chinese Regulator Approval

Furthermore, to ensure there are no future problems, Disney also agreed not to reach any agreements with sports leagues that are currently signed to Fox Sports. The company also promised free use of the Fox brand to whichever entity buys Fox Sports.

Following the deal, Disney will regain the rights to many of Marvel's most popular characters, including the Fantastic Four and X-Men.

Star Wars Yoda Baby Yoda feature
The Mandalorian: Everything We Know About Yoda's Species

More in TV