Disney close to €51bn deal to take over Fox assets

Disney-Fox deal would be a media and entertainment earthquake

Disney-Fox deal would be a media and entertainment earthquake

Twenty-First Century Fox, Inc. Also, Disney plans to separate the broadcast Fox network from its parent supplier, Fox.

Shares of Comcast CMCSA climbed on Tuesday morning after the company announced that it officially bowed out of the fight to buy some of 21st Century Fox's FOXA assets.

Since then, analysts have seen a bitter fight between contenders for the Fox shares, which will be worth over $40 billion.

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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.

"According to Variety, cable provider Comcast (and SYFY WIRE corporate parent) is "'no longer' looking at Fox's film and TV studio and other assets as acquisition targets". Comcast had certainly approached Fox in mid- November expressing interest over the assets.

Another firm known as the Murdochs would take up the remaining assets which include the Fox Broadcasting Co, Fox News, and Sport cable networks (FSI and FS2), to create a small TV firm.

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The Murdoch family, which controls Fox, prefers a deal with Disney because it would rather be paid in Disney stock than Comcast stock, and expects a potential deal with Disney to be cleared by USA antitrust regulators more easily, one of the sources said.

Disney's negotiations with Fox are continuing, and a deal could be reached as early as this month, sources close to the situation said on Monday. A Fox representative declined to comment.

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