Walt Disney Co. has proposed antitrust concessions to the European Commission as part of its efforts to win approval for its $71.3 billion deal to buy 21st Century Fox Inc. entertainment assets, Variety reported Oct. 15.
The European regulator has extended its deadline for reviewing the merger to Nov. 11 from Oct. 19. Details about the concessions offered were not disclosed.
Disney recently unveiled plans for a new organizational structure for its Media Networks segment, conditional upon closing of the company's transaction to acquire the Fox assets.
In June, the U.S. Department of Justice cleared the proposed transaction with the condition that the combined entity will divest 22 regional sports networks. The deal was cleared by shareholders of both companies in July.