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BRASILIA (Reuters) – Brazil’s antitrust regulator Cade said on Monday that a deal by Walt Disney Co (DIS.N) to buy Twenty-First Century Fox’s (FOXA.O) entertainment assets raised concerns about undermining competition in the cable television market funny cufflinks uk online. A Cade report prepared to inform a subsequent ruling by the regulator said the deal would result in “a significant increase in concentration in the market of sports channels on cable TV and a high probability that Disney could control the market.”..
This could “potentially reduce the quality and diversity of the sports content available, besides raising costs that could be passed on to consumers,” the report said funny cufflinks uk online. It recommended remedial measures. Cade has until March 23, 2019 to decide and the deadline can be extended for 90 days. “The filing of the report on CADE’s review of the 21st Century Fox acquisition is part of the agency’s normal pre-merger process,” a Disney spokesman said. “We have been and are continuing to work productively with the agency to address any concerns.”..
(Reuters) – Nexstar Media Group Inc (NXST.O) said on Monday it had agreed to buy Chicago-based peer Tribune Media Company (TRCO.N) for about $4.1 billion in cash, a deal that would make it the largest regional U.S. TV station operator funny cufflinks uk online. Nexstar said it would pay $46.50 per share, representing a premium of 15.5 percent to Tribune’s closing price on Friday. Tribune shares closed up 11.7 percent at $44.98 on Monday and Nexstar shares closed up 6.9 percent. The value of the deal was in line with a Reuters report on Sunday..
Including debt, the transaction is worth $6.4 billion funny cufflinks uk online. In August, Sinclair Broadcast Group Inc’s (SBGI.O) attempt to buy Tribune in a $3.9 billion deal collapsed over regulatory hurdles. However, since then the broadcast media sector has seen a flurry of merger talks, amid expectations that the U.S. Federal Communications Commission (FCC) could relax restrictions on how many stations broadcasters can operate. Irving, Texas-based Nexstar said the transaction was subject to approvals by Tribune’s shareholders and regulators including the FCC. The company intends to divest certain television stations necessary to comply with regulatory ownership limits..
Nexstar owns, operates and provides sales and other services to 174 television stations reaching nearly 39 percent of all U.S. television households, while Tribune Media owns or operates 42 local television stations reaching approximately 50 million households. The deal prompted concern in the U.S. Congress, where Senator Richard Blumenthal, a Democrat from Connecticut, warned that the proposed merger could lead to less local news production funny cufflinks uk online. “The snowballing consolidation of local stations has too often endangered hard-hitting investigative journalism, replacing local journalists with identical cookie cutter segments dictated from far away,” he said..