Disney Reportedly Looking To Buy Most of 21st Century FOX

07 November, 2017, 01:13 | Author: Franklin Nunez
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CNBC sources say negotiations began a few weeks ago about the Walt Disney Co. potentially buying Fox's movie and TV properties, leaving the Murdochs to focus mostly on Fox News and Fox Sports.

The two sides are not now talking, CNBC said. If a deal does happen, it could have massive implications for the entertainment business.

For Fox, reports of a Disney acquisition discussion come amid the company's pursuit of a majority stake in European pay TV operator Sky. One is that Fox believes most in the future value of news and sports compared to entertainment, and there's some logic for that given the challenges movie studios and non-sports television networks are facing. Fox would have kept its news and sports holdings and would restructure around those assets.

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"According to people with knowledge of the talks, the company could not own two broadcast networks and would therefore not buy the Fox broadcast network", Faber reported on CNBC.

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.

Popular 20th Century Fox releases this past year include "Alien: Covenant", "The Boss Baby", and the final Wolverine film "Logan"; the studio's upcoming projects include "Deadpool 2", "X-Men: Dark Phoenix", Queen biopic "Bohemian Rhapsody" and four "Avatar" sequels. That deal is now undergoing review by United Kingdom regulators. This could mean great news if you are a fan of the Marvel comic book superheroes.

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Sheikh said he is surprised that the Murdoch family, which controls 21 Century Fox, would consider giving up control of the company. Disney would acquire Fox's movie studio, cable networks like FX, and worldwide holdings including its 39 percent stake in Sky.

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

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