The Walt Disney Company and Twenty-First Century Fox are reportedly moving closer to closing in on a deal, and CNBC is reporting that it could be done as soon as next week.
We told you yesterday that Disney was back to discussing the Fox acquisition and since that report, Bloomberg has said that “Fox would prefer to strike a deal with Disney, as they are a better strategic fit and presents fewer regulatory hurdles.”
As we’ve previously mentioned, if this deal goes through, Disney would be acquiring the studio and television production assets from the Rupert Murdoch-controlled media company, which would leave Fox with its news and sports assets. Fox is still reportedly talking with Comcast, but the talks with Disney have progressed more significantly.
“The deal contemplates the sale of Fox’s A&E, Star, regional sports networks, movie studios and stakes in Sky and Hulu, among other properties. What would remain at Fox includes its news and business news divisions, broadcast network, and Fox Sports.
The enterprise value of the Fox assets in the Disney deal is seen as above $60 billion, according to sources. Current Fox shareholders would get one share of the Fox company that remains after the movie and television assets are sold plus shares of Disney in a fixed exchange ratio.”
As we mentioned in yesterday’s story, this is a situation where none of the parties in play are offering a public statement the matter, so there will be a lot of waiting and speculating until any official announcements are made. We’re following this story closely and will update you on any news as soon as we hear it.
News Source: CNBC
Image Source: Variety