Disney has reportedly been in talks to buy most of 21st Century Fox (DIS, FOXA)

business news

  • Disney was recently in talks to buy most of 21st Century Fox, according to CNBC’s David Faber.
  • The deal would trim 21st Century Fox’s assets into a more focused slate of news and sports networks to better compete in a changing media landscape, the report said.
  • An acquisition would exclude Fox News because Disney cannot own two broadcast networks, the report said. Fox’s sports channels would also not be combined with ESPN to avoid antitrust scrutiny.
  • Disney was reportedly interested in buying networks such as National Geographic and FX, among others.

The media corporation 21st Century Fox has been in talks to sell most of itself to Disney, CNBC’s David Faber reported on Monday.

An acquisition would leave 21st Century Fox with a smaller, more focused portfolio of news and sports networks to better compete in a changing media space, the report said.

A deal would exclude the Fox broadcast network because Disney could not own two broadcast networks, the report said. (Disney acquired ABC in 1996.) It would also exclude Fox’s sports channels to avoid regulatory concerns that combining them with ESPN would be anticompetitive.

Disney was reportedly interested in buying Fox assets including its studio division, partial ownership of the UK telecoms company Sky, and networks such as National Geographic and FX.

Disney could benefit from 21st Century Fox’s television properties as it gets ready to launch a streaming service. The company announced in August that it would end its exclusive movie deal with Netflix in 2019 and launch an ad-free, Disney-branded streaming service.

Fox was willing to discuss an acquisition with Disney because its senior management believes the way to scale its media properties is not by buying others, the report said. Both companies aren’t in talks now but could resume them, according to the report.

The report did not include a price that Disney may have offered 21st Century Fox.

Shares of 21st Century Fox spiked 6%, while Disney gained 1% on the news. Other cable networks, including Viacom and Discovery Communications, rallied; Netflix fell.

SEE ALSO: Broadcom offers to buy Qualcomm in what would be the largest tech deal ever

Join the conversation about this story »

NOW WATCH: Watch billionaire Jack Ma sing his heart out during a surprise performance at a music festival

Комментариев нет

Добавить комментарий

Этот сайт использует Akismet для борьбы со спамом. Узнайте как обрабатываются ваши данные комментариев.

business news
Trump’s trade fight and the unwinding of a $3 billion bet are clobbering copper

Copper prices on the London Metal Exchange slipped below $6,000 for the first time in a year Thursday. Analysts say trade escalations are weighing on a market already under pressure. An unwinding of a $3 billion long position put pressure on prices earlier this month.  Follow copper in real time …

business news
Trump threatens to slam a massive tariff on European cars, which could cause economic chaos

President Donald Trump on Friday threatened to impose a 20% tariff on imports of cars from the European Union. The move would be a huge escalation of Trump’s ongoing trade conflict with the EU. Trump already hit Europe with steel and aluminum tariffs, angering EU leaders and triggering retaliation. President …

business news
Bitcoin’s rough patch looks like the Nasdaq during the tech bubble — except it’s moving 15 times faster

Bitcoin fell as much as 70% from its mid-December high through its recent early-February low. The cryptocurrency’s price chart mirrors that of the Nasdaq Composite Index during the dotcom bubble era, but there’s a catch. Historical fluctuations in the Nasdaq should provide a template for how bitcoin will trade going …