Senators Call for Investigation Into DISNEY/FOX Buyout

Credit: Disney/Fox

Top members of the House and Senate antitrust subcomittees have called for an investigaton into Disney's proposed buyout of 20th Century Fox citing anti-monopoly laws, according to Variety.

Ranking Senate antitrust subcomittee member Sen. Amy Klobuchar (D-MN) and ranking House antitrust subcomittee member Rep. David Cicilline (D-RI) have asked their respective comittees to conduct an investigation into the proposed deal. Klobuchar called the buyout “another industry-changing merger, which would have major implications in television, film, and media," saying “I’m concerned about the impact of this transaction on American consumers."

“Disney’s proposed purchase of 21st Century Fox threatens to put control of TV, movie, and news content into the hands of a single media giant," said Cicilline. “If it’s approved, this merger could allow Disney to limit what consumers can watch and increase their cable bills. Disney will gain more than 300 channels, 22 regional sports networks, control over Hulu, and a significant portion of Roku.”
Cicilline added that the country "is in a monopoly moment."
The deal was struck Thursday, with Disney agreeing to buy Fox's assetts for $52.4 billion, with a separate guarantee for each party should the buyout be blocked.
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