According to Recode.com, several Democratic leaders in the House and Senate of the U.S. Congress are calling for a hearing about Disney’s purchase of 21st Century Fox.
Some members are concerned that with this purchase Disney will disproportionately control the entertainment market. Senator Amy Klobuchar, a member of the leading antitrust oversight committee, has stated, “I’m concerned about the impact of this transaction on American consumers.”
House Representative David Cicilline stated, “Another day, another mega-merger. 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.”
Congress will likely have no impact on this massive deal, but members will often call for hearings on these large scale acquisitions to shine a light in an attempt to change public opinion.
This is still early in what Disney and Fox say will be a 12 to 18 month process; it will be under scrutiny by government regulators, which could have an effect, as evident by the justice Department’s recent suit involving AT&T’s attempted acquisition of Time Warner.
Stephen "Steve" Porter started going to the parks with his family in 1996. Since then he hasn't looked back! Steve was a cast member participating in the Disney College Program in 2013. Most recently he graduated from Penn State University!