Disney, Fox Deal Announcement Expected Thursday

Danny Woods
December 13, 2017

Disney could reportedly complete its purchase of 21st Century Fox's movie and television production operations as soon as this week.

The Murdoch family, which controls Fox, prefers a deal with Disney because it would rather be paid in Disney stock than Comcast stock.

Disney became the sole suitor after Comcast dropped its bid for the majority of Fox assets on Monday. The deal is said to be worth over $60 billion, but the exact amount is still not known. This could be to allow Disney to avoid negative tax implications from the deal.

The sale would include the 20th Century Fox film studio and the Sky and Star satellite broadcasters in the UK, Europe and Asia.

It also expects a potential deal with Disney to be cleared by United States competition regulators more easily, one of the sources said.

The assets being sold by Fox include its FX and National Geographic cable channels, 22 regional United States sports networks and the company's stake in the Hulu streaming platform in the US.

More news: San Francisco Mayor Ed Lee dies suddenly at age 65

Left out of a potential Disney and Fox deal would be the company's flagship Fox News and Fox Business channels, as well as the Fox broadcast network and Fox Sports 1.

According to the report, the company remaining after Fox sells its film and TV assets would trade at about $10 per share and that existing Fox shareholders would get one share of the remaining company.

But Disney could acquire Fox's film and television studios, worldwide assets like Sky and Star, Fox's cable networks including FX and National Geographic, and Fox's numerous regional sports networks.

Comcast, which owns Universal Pictures, was also in talks with Fox to acquire the deal.

Fox shares have jumped by close to a third over the past three months.

Other reports by LeisureTravelAid

Discuss This Article