Walt Disney Files for Fox Deal Approval in Brazil
The U.S. Department of Justice has already approved the transaction, with Disney and Fox shareholders set to vote on the mega-deal on Friday.
Walt Disney has submitted a filing with regulators in Brazil to gain approval of its proposed $71.3 billion takeover of large parts of 21st Century Fox.
The filing was made Thursday with Brazil's Conselho Administrativo de Defesa Economica, or Administrative Council for Economic Defense, according to local media reports. The regulator's duty is "guiding, inspecting, preventing and investigating economic power abuse."
One report said that in its filing, the Walt Disney Company Brazil argued that the acquisition would not reduce competition in the industry and would not give it a dominant position or monopoly in Brazil or abroad.
The U.S. Department of Justice has already approved the transaction, with Disney and Fox shareholders set to vote on the mega-deal in New York meetings at 10 a.m. on Friday.
Disney's cash and stock deal for Fox includes its TV and movie studio, FX, Nat Geo, Fox's 30 percent stake in Hulu, Star India and Fox's 39 percent stake in European pay TV giant Sky.
Comcast dropped out of the Fox hunt after offering $65 billion for the assets before getting trumped by Disney's sweetened bid. But Comcast, led by chairman and CEO Brian Roberts, remains in the lead in the hunt for Sky, having submitted a raised $34 billion offer to, at least for now, prevail over a rival bid from Fox.