Grupo Lauman Buys Disney’s Fox Sports in MexicoBy MBN Staff | Thu, 06/10/2021 - 18:21
After months of looking for and negotiating to find the perfect buyer, Grupo Lauman confirmed the purchase of Fox Sports Mexico, which was owned by subsidiaries of The Walt Disney Company. The transaction will be closed in the next few months. “This acquisition complements Grupo Lauman’s Media and Telecommunications portfolio and corporate strategy. We are honored and proud to acquire the number one pay-TV sports channel in Mexico. We are confident that at the closing of the transaction we will maintain the growth of Fox Sports as the leading channel,” said in a statement President of Grupo Lauman Manuel Arroyo.
On Tuesday, the Federal Telecommunications Institute (IFT) reported that it had authorized the share purchase agreement. Fox Sports’ divestiture was one of the conditions set by the IFT when it approved the merger in Mexico between The Walt Disney Company and 21st Century Fox in 2019. At the time, its analysis showed that Disney's Fox Sports and ESPN accounted for 70-80 percent of sports content on pay TV. Finally, the institute considered that Grupo Lauman, which also controls Comtelsat and the newspaper El Financiero, complies with the criteria for eligibility as it has the financial capacity and incentives to acquire and operate the business, is independent of Disney/21st Century Fox and can compete independently.
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