Disney And Fox Shares Edge Higher On Report Of Thursday Deal Announcement
13 December, 2017, 06:12 | Author: Gary Shelton
Disney and Fox have reportedly both moved on to hiring legal teams and retaining services from financial institutions to assist in hammering out the details of the transaction.
USA cable company Comcast has dropped out of the race for 21st Century Fox's entertainment and worldwide assets, clearing the way for Disney to acquire a piece of Rupert Murdoch's media empire.
Comcast, which owns Universal Pictures, was also in talks with Fox to acquire the deal. It earned more than United States dollars 600 million worldwide as a bleak, R-rated superhero film, but while that success was heartening, Mangold fears a future in which Disney would never allow such a film to be made because of merchandising concerns.
When reports first surfaced about a potential sale of Fox assets, several companies including Comcast, Verizon and Sony were said to be in the mix for a potential deal.
Comcast issued a statement saying it was never able to secure the level of engagement needed to pursue a deal with Fox.
Disney, which has hit a rough patch this year, especially as its sports media network struggles, could benefit from a deal that would make the entertainment giant an even bigger player in television and movies.
With Comcast out of the running as of Monday, it's now down to settling on a price for the assets.
That means a collection of film and TV operations worth some $68 billion would go to Disney, including film and TV studios, a range of cable networks and stakes in Hulu and Sky TV.
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