Saturday, 18 November, 2017

21st Century Fox held talks with Disney over possible sale, reports say

Officer Bob Iger holds a news conference at Shanghai Disney Resort as part of the three-day Grand Opening events in Shanghai China Disney has held talks to buy Fox entertainment assets
Mae Harvey | 07 November, 2017, 01:11

It did discuss buying Fox's movie and TV production studios, cable networks FX and National Geographic and worldwide assets such as the Star network in India and European pay TV provider Sky Plc, CNBC said.

The two sides are not now talking, CNBC said. Presumably, it would take an insane amount of money to make it happen, but if Fox have already been willing to entertain sales talks, you have to feel that something is possible. Besides the movie studio, TV production, and assets like Star and Sky, Disney would gain entertainment networks like National Geographic and FX. It would also have kept its broadcast network and the local broadcast stations it owns.

Disney, which under United States rules could not own two broadcast networks, would not purchase all of Fox, CNBC reported, citing the same sources. It would not buy Fox's sports programming assets in the belief that combining them with ESPN could be seen as anti-competitive from an antitrust standpoint and it would not buy the Fox News or Business channel.

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.

If a deal like this did happen and did receive regulatory approval, it could have some significant effects on sports.

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Marvel icon Stan Lee expressed interest in seeing these characters fall under the MCU banner earlier this year and fans quickly became starry-eyed at the idea. But 21st Century Fox wouldn't sell all of its company. Sports, news and The Simpsons fans shouldn't worry.

Bringing in FOX Studios under its fold would be pretty huge for Disney as it recently purchased Pixar, Star Wars and Marvel.

Of course, if Fox and Disney come to an agreement, both sides must get something out of it.

Shares of Fox jumped 7.5% to 26.85 in afternoon trading in the stock market today.

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