21st Century Fox in Talks to Sell Most of Company to Disney

07 November, 2017, 01:42 | Author: Raquel Nash
  • Disney Looked at Buying Most of Fox, Talks Now Dead, CNBC Says

Faber writes that the sides aren't now in talks at the moment, but that those talks could be revisited. However, Fox shares are up more than 5 percent on the day on the potential Disney deal; Disney shares are up about 1 percent.

The reports say the companies have been talking over the past few weeks. Disney, which under USA rules could not own two broadcast networks, would not purchase all of Fox, CNBC reported, citing the same sources.

The company would obtain 21st Century's film studio and television channels including FX, FXX, National Geographic along with worldwide stations such as Star and Sky.

21st Century Fox's management is under the belief that they can't compete with the media scale of other studios, and that Disney has the scale necessary to take its film and television productions to new heights.

21st Century Fox may be looking to readjust in line with the changing media landscape, which now sees Facebook, Amazon and Netflix dominate - Fox not having the scale to match these companies in entertainment through acquisition. Disney already owns the ABC television network and, with ESPN, is Fox's biggest rival in the cable sports business.

Broadcom offers to acquire Qualcomm for $70 per share
However, according to the FT , Qualcomm is set to reject the deal, raising the prospect of a fight for the future of the company. The company has also got commitment letter for $5 billion debt financing from private equity Silver Lake Partners.

We'll be sure to keep you posted on this deal. That deal is now undergoing review by United Kingdom regulators. Fox declined to comment.

The buyout mainly concerns 20th Century Fox film properties, and would also remove the company as a Disney film competitor. The House of Mouse is preparing two direct-to-consumer streaming products, one for sports and one for major franchises like Marvel and Star Wars, after pulling its content from Netflix. That might lead to a focus on doing even more sports than they now do, and that's even before you consider to the apparent corporate emphasis on sports here.

Sheikh said he is surprised that the Murdoch family, which controls 21 Century Fox, would consider giving up control of the company.

The flip side of that is that Fox would be far less diversified, and that sports would play far more of a role in their corporate bottom line, for good or for ill.

Ever since the Marvel Cinematic Universe was established after Disney bought Marvel Comics, fans have been hoping that the movie rights from properties like X-Men and Fantastic Four would eventually revert back to Marvel Studios.

Recommended:



Popular

Mike Evans suspended one game for cheap shot on Marshon Lattimore
Winston provoked Lattimore by poking him in the back of the head while he walked up the sideline, and Lattimore shoved Winston. The hit, which Evans called "unprofessional", occurred in the third quarter of the Saints' 30-10 win against the Buccaneers.

Ezekiel Elliott granted stay and is eligible to play Sunday
Ezekiel Elliott's lawyers have attempted to settle with the National Football League to reduce his six-game suspension. The NFL planned to enforce Elliott's suspension beginning Sunday until Friday's intervention by the appeals court.

NZ not alone on ISDS clauses: Ardern
The Prime Minister says TPP11 talks are walking a tightrope between signing the deal, and not undermining New Zealand's interests. Australia withdrew from the Manus Island centre on Tuesday, following a PNG court ruling that the centre was unconstitutional.

Rockford Police officer, another person found dead after traffic stop
Anthony Hospital, where he later died. "We do not believe we have any public at risk at this point", Chief O'Shea said. About two blocks of where the initial stop was made a deceased person was found inside of a wrecked vehicle.

Chennai rains: Residents reel under monsoon fury; schools shut, farming, fishing affected
Authorities in Tamil Nadu say that schools and colleges in Chennai and other parts of coastal state will remain closed on Friday. Many suburban areas of Chennai continued to remain submerged, even as the water level in various areas was slowly receding.

Daylight saving time: 5 tips for a smoother switch Sunday
As for the proposals emerging in New England, the one from MA calls for pushing back the start of the school day. 5 - meaning when the clock strikes 2 a.m., we'll be "falling back" an hour to 1 a.m.

Yemen's Houthi fire missile at Saudi Arabia's Riyadh
More than two years on, the war against Houthi rebels has turned into a quagmire for the kingdom and its Arab allies. Saudi Arabia claims the Shiite Houthi rebels are backed by its regional rival Iran.

UK Defence Secretary Michael Fallon resigns amid Westminster 'sex pest' scandal
Michael Fallon admitted his behavior had 'fallen below the high standards that we require of the armed forces'. It is due to resume talks on Britain's European Union departure in Brussels, Belgium, next week.

Bowe Bergdahl's Sentence: No Prison Time
He said he walked away from his post in remote Afghanistan to alert commanders of issues at the post. Bergdahl was released in May 2014 in a controversial exchange for five Guantanamo Bay detainees.

Twitter Employee Blamed For Deleting President's Account
Users on the platform also noted that the incident raises concerns about the firm's ability protect the account's security. Some have wondered whether his threatening tweets to North Korea were at odds with Twitter's terms and conditions .