The Walt Disney Company and 21st Century Fox have resumed discussions involving Disney acquiring the vast majority of Fox's entertainment assets and divisions, including the movie studios 20th Century Fox and Fox Searchlight, as well as the FX cable networks and 20th Century Fox Television. News of the Murdoch family returning to the negotiating table with Disney was first reported over the weekend by Wall Street Journal, but now CNBC reveals that despite ongoing talks between Fox and Comcast, the Murdochs are very close to a deal with the Mouse House.
According to CNBC, a deal is likely to be reached between the two corporations as early as next week and, at a price of more than $60 billion, will see Disney take ownership of all of Fox's movie divisions and many of their cable networks, including NatGeo and the 39 percent share in the UK's Sky TV network that the Murdochs awkwardly still own (as the Murdochs are also still technically attempting to buy out the rest of Sky). Disney would even take ownership of regional sports networks owned by Fox, although notably not the cable channels Fox Sports and F1. However, the Fox Broadcasting Network would continue to be owned by 21st Century Fox (which may want to change its name when this is all done), as would the sports channels, and the Murdochs' "news" empire with the likes of Fox News and Fox Business News
Reports of this potentially massive acquisition made waves throughout the entertainment and finance industries just last month. To the point where 21st Century Fox suspended trading activities. The initial reports were cautious, perhaps due to the hurdles the similar Time Warner and AT&T deal faced. Now Disney and Fox have re-engaged and are close, all while Fox is still keeping Comcast at the table, possibly as a hedge against Disney.
The appeal of certain 21st Century Fox assets to Disney remain obvious. Disney is quickly cornering the movie blockbuster market with its Marvel and Lucasfilm brands. Not only would acquiring 20th Century Fox studios remove a major competitor, it would strengthen the Marvel brand by adding properties like X-Men and the Fantastic Four to the stable.
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