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Disney Receives Approval From China For Acquiring Fox

A Disney representative confirmed recently that Chinese regulators have given clear approval to Disney for purchasing most of 21st Century Fox, a mass media company. CNBC reported that the approval spots a major milestone for the contract, which is anticipated to finish in the first half of 2019.

This year, shareholders from both the firms gave the green signal to Disney for buying most of Fox’s possessions for $71.3 Billion. Disney is receiving the company’s movie studio, which comprises franchises such as “Avatar” and “X-Men,” together with cable channels like National Geographic and FX. Disney conquered antitrust approval from the U.S. regulators in the month of June, but it had to sell-off 22 regional sports networks of Fox as a clause of that approval. The outcome of those networks is still unclear. Previously in this month, the EU (European Commission) also gave approval to the deal. The EU regulators needed Disney to take off its interest in Europe and channels such as H2, History, Crime & Investigation, Blaze and Lifetime etc. Disney also reported that China did not link any clauses to its approval. Some US-China analysts had conjectured that China could slow down its approval for the Disney-Fox deal to earn control in negotiations with the U.S. over trade.

Recently, Disney was also in news for setting its footprint in mobile gaming by teaming up with Jam City, a mobile game developer. Disney entered in a multi-year games development business with leading mobile gaming company, sustaining foray into gaming section and increasing the expectations across the booming sector. Under the terms of a contract broadcasted lately, Jam City would be taking over the Disney’s “Emoji Blitz,” California-based mobile game studio that is massively popular mobile game which was released in July 2016. The recent deal also states that Jam City will hold the rights to create new games based on elements from Walt Disney Animation Studio brands and Disney’s Pixar.

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Jamie Jones

The Business department at Global News Journal is handled and managed by Jamie. she has 5 plus years of experience in the related sector. She has done her Masters in Business Administration and hence is a perfect fit for this job. If anybody has any doubt in the business section, they look up at Jamie. And she totally solves it. In her free time, Jamie loves sipping coffee at her favorite coffee shop.

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