Disney reportedly in talks to buy 21st Century Fox

07 November, 2017, 01:37 | Author: Julian Swanson
  • Disney Looked at Buying Most of Fox, Talks Now Dead, CNBC Says

Reports say the companies have been negotiating off and on for the last few weeks, with no deal now on the table. American companies aren't allowed to own two broadcast networks, and buying Fox Sports would raise antitrust questions when Disney already has ESPN under its belt.

Executives reportedly believe that Fox could compete more effectively if it consisted of "a more tightly focused group of properties around news and sports". If a deal were to be worked out, Disney would also take control of Fox's TV production wing as well as global assets.

The deal that was under discussion, as reported by CNBC, would have seen Fox selling its movie studio, television production unit and entertainment networks to Disney.

It is unclear what the price of the sale would be, though as Iger has proven many times in his decade-long tenure, he is not afraid to cut a multibillion dollar check for he deems a good investment. Disney would also not purchase Fox's local broadcasting affiliates, according to people familiar with the negotiations. No deal has officially been made yet and right now the companies aren't speaking but there's room for them to return to the table and renegotiate.

The entertainment giant would also add television networks like FX and National Geographic, according to the report, while Fox would keep its namesake sports and news networks.

It's important to note that should a deal go through, Disney wouldn't be acquiring all of Fox, or at least not based on what the sources have described. That £11.7bn ($15.41bn) deal has run afoul of regulators' concerns about media plurality in the United Kingdom and the Murdochs' commitment to broadcasting standards.

The two companies did not respond to an AFP request for comment.

"When asked how much Twenty-First Century Fox's mentioned assets will cost she replied, "$20 billion. It recently announced that it will be pulling its content from Netflix and launching its own, rival streaming platform.

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