21st Century Fox in Talks to Sell Most of Company to Disney

07 November, 2017, 00:31 | Author: Julio Duncan
  • 21st Century Fox Disney

The two sides are not now talking at this moment, but given the on again, off again nature of the talks, they could be revisited.

One of the biggest entertainment industry acquisitions since The Walt Disney Company bought Lucasfilm is reportedly in the works, and it involves the entertainment juggernaut buying yet another major movie and television entity.

The deal would trim 21st Century Fox's assets into a more focused slate of news and sports networks that can better compete in a changing media landscape, the report said.

The report regarding the deal indicates that Disney is avoiding the Fox Sports and Fox News assets, as well as the Fox broadcast network, in order to stay on the right side of antitrust laws.

Twenty-First Century Fox has a total valuation of $48 billion U.S., but the assets it would be buying are valued at about half that, Needham analyst Laura Martin told the network. That deal is now undergoing review by United Kingdom regulators.

Fox would continue to own its broadcast network and TV stations, cable news networks and sports businesses. However with this sale, Disney can merge the MCU with the aformentioned characters.

Marvel Studios' inability to use the X-Men and Fantastic Four - as well as most of their supporting casts - within the MCU franchise has always been a sore spot with Marvel fans, and it didn't look likely that FOX would ever be inclined to give the film rights to the characters back to Marvel.

Fox's stock is up more than 7% on the reports from CNBC and The Wall Street Journal, which cite unidentified insiders and describe negotiations not now being held. Officials at Disney and Fox declined to comment. The fact that Disney and Fox were in talks in the first place would indicate that there remains a chance, however slight, that the studios might yet come to an agreement. Disney shares rose 1.6% on the news.



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