Disney Stock – Grupo Lauman Buys Fox Sports Mexico, Paving Way for Disney Deal
Mexico’s Grupo Lauman is said to have acquired Fox Sports Mexico, the local outlet El Financiero reported late Friday, paving the way for Walt Disney Co.’s purchase of 21st Century Fox Inc.’s entertainment assets in the country.
The company signed the deal on Friday, pending approval from Mexican telecom regulator IFT, according to El Financiero. Grupo Lauman is owned by Manuel Arroyo, who also owns El Financiero.
Earlier this month, IFT rejected Disney’s request to extend the period to sell Fox Sports channels in the country. Mexico’s telecom regulators approved Disney’s $71 billion purchase of 21st Century Fox’s entertainment assets last year, on the condition the companies agree to sell the Fox Sports channels and programming rights in the country.
Read More: Disney-Fox Inches Closer as Mexico Gives Conditional Approval
El Financiero newspaper and television station have a partnership with Bloomberg News.