Fox held talks to sell most of company to Disney

Share

Shortly after the initial report surfaced that Disney had entered into talks with 21st Century Fox to acquire the latter's movie properties ad right, a second report has arrived throwing that deal into doubt. The two sides are not now talking at this very moment, but given the on again, off again nature of the talks, they could be revisited. And a third view is that Fox isn't as concerned about what they're selling as who's buying it; there are only a few companies with the resources to pick up media properties on this scale, and less that would have much interest, with Disney perhaps at the top of that list.

If the deal ends up going through apparently FOX wants to focus on news and sports, which it feels could compete more effectively.

Fox is still producing films of varying quality based on the Fantastic Four and the X-Men characters... much to the consternation of Marvel fans, many of which would love to see all of the classic Marvel Comics characters finally be reunited under the Marvel Studios banner.

For Fox, reports of a Disney acquisition discussion come amid the company's pursuit of a majority stake in European pay TV operator Sky. Disney isn't interested in Fox's broadcast network, Fox News; local broadcast affiliates; or sports programming, the network said.

Fox would continue to own its broadcast network and TV stations, cable news networks and sports businesses. In animation, Fox also has the Ice Age franchise. In addition global assets, such as Star and BSkyB, he reported that Disney is seeking to add entertainment networks such as FX and Nat Geo. That deal is now undergoing review by United Kingdom regulators.

Fox stock trading was halted when the news first broke.

It'd definitely be interesting. Disney climbed 1.9% to 100.55.

It is not known if Murdoch, who is now the Executive Co-Chairman at 21st Century Fox, wpould maintain a role inside the company or if he would take some time off to celebrate being newly Wednesday for the third time to supermodel wife Jerry Hall.

Shares of Twenty-First Century Fox rose some 7 percent to $26.80 in afternoon trade while Disney was up almost 2 percent to $100.30.

Share