Disney’s (NYSE:DIS) Fox Bid Gains Momentum
$DIA, $FOX, $AMZN, $NFLX
Walt Disney Co. (NYSE:DIS) is in the lead to acquire much of Twenty-First Century Fox Inc.’s (NASDAQ:FOX) media empire.
The Murdoch Family, which controls Fox, prefers a deal with Disney because it would rather be paid in Disney than Comcast stock, and expects a potential deal with Disney to be cleared by US antitrust regulators more easily, one of the sources said.
But, no deal between Disney and Fox is imminent and several issues have yet to be fully negotiated, the sources said.
It was reported earlier Tuesday that a deal for Disney to buy Fox’s movie studio and television production assets for more than $60-B could come as early as next week.
Disney would acquire Fox’s FX and National Geographic cable channels, its movie studio, the Star network in India and stakes in European pay-TV provider Sky PLC. Fox would keep its news and business news divisions, its broadcast stations and Fox Sports, the sources said.
Those assets would offer the opportunity for Disney to broaden their international distribution footprint.
They would also be a source of new content at a time when companies like Amazon.com Inc (NASDAQ:AMZN) and Netflix Inc (NASDAQ:NFLX) are spending billions to bulk up on programming.
Fox declined to comment, Disney did not immediately respond to requests for comment.
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