The Walt Disney Company / 21st Century Fox Merger Cleared by the European Commission

In November 2018, the European Commission cleared the $71 billion merger between The Walt Disney Company (“TWDC”) and 21st Century Fox, subject to conditions.

Compass Lexecon provided our client, TWDC, with a competitive assessment of its acquisition of 21st Century Fox’s film and television assets. Amongst other things, we analyzed the parties’ market shares, we conducted a statistical analysis of prices and quality, and we assessed the nature and dimensions of competition in the sector. We also analyzed the closeness of competition between the parties and other firms in the market.

The Compass Lexecon team was led by Jorge Padilla and Miguel de la Mano, supported by Dennis Beling, Daniel Coublucq, Thomas Bowman, Gianmarco Calanchi and Laura Rovegno, working closely with lawyers from Covington & Burling.