The Department of Justice approved the Walt Disney Company's more than $71 billion bid for 21st Century Fox entertainment assets.
In the filing released Wednesday, the DOJ says Disney has to divest 22 of Fox's regional sports networks. Disney already owns ESPN, and the DOJ says owning both could reduce competition, resulting in higher prices for sports programming.
The approval is a major win for Disney but could be a setback for Comcast, which has been in a bidding war with Disney for most of Fox's assets. Disney raised its offer to $71.3 billion last week after Comcast bid $65 billion.
But Comcast isn't out of the race yet. Fox will have to approve Disney's bid. The company canceled an upcoming shareholders meeting to decide on the offer.
