Mediapro to acquire Fox Sports pay-TV channels in Argentina which is currently owned by the Walt Disney Company
Mediapro is set to acquire the Fox Sports pay-TV channels in Argentina which is currently owned by the Walt Disney Company. Disney had agreed to sell its various Fox Sports channels across the globe in order to complete a US$71.3 billion acquisition of 21st Century Fox’s entertainment assets. Fox Sports Mexico being sold to Grupo Lauman is another notable example.
Mediapro acquisition of Fox Sports
MediaPro and Disney had agreed on this deal in February however the authorities in Argentina approved the move in the month of April.
The resolution signed between the parties in April does not definitively authorize the sale. For the sale to materialize, Disney and Fox will have to meet a series of requirements proposed by the CNDC (Comisión Nacional de Defensa de la Competencia) the country’s competition regulators. The requirements would address competition issues that would emerge with the onset of this deal.
The conditions outlined by the CNDC consist mainly of selling Fox Sports channels along with all the rights corresponding to the content that was transmitted at the time this deal was agreed. This implies that all broadcasting rights pertaining to respective competitions will have to be transferred to Mediapro as well.
The competitions included are Copa Libertadores, Argentina’s Primera División top-flight soccer league, NFL, UEFA Champions League, MLB, Formula 1, WWE, World Rugby Sevens and ATP World Tour 250 tennis.
In view of CNDC requirements, Disney had to broadcast two league matches per week on Free to Air (FTA) Television, with at least one featuring domestic heavyweights Boca Juniors or River Plate. This requirement will be scrapped once Mediapro takes over.