Disney And Fox Deal Reportedly Close, Could Be Announced Next Week

Minnie Mouse

Minnie Mouse

According to CNBC, The Walt Disney Company is now closing in on a deal to acquire 21st Century Fox assets, and an announcement could happen as soon as next week with estimates putting the price at around $60 billion.

The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles, California U.S. November 6, 2017.

However, no deal between Disney and Fox is imminent and several issues have yet to be fully negotiated, the sources said. But Disney could acquire Fox's film and television studios, global assets like Sky and Star, and Fox's cable networks including FX and National Geographic.

Fox will sell TV networks such as FX and National Geographic as well as movie studios, franchises, and more to Disney but local TV affiliates, Fox Sports, and Fox News will not be given to Disney. Not included would be Fox News, Fox Broadcasting Co. and Fox Sports Networks.

Reuters had reported last month that apart from Disney, both Comcast and Verizon Communications Inc had also expressed interest in acquiring a significant part of Fox's assets.

Fox shares rose 1.6 percent in midday trade, while Disney tumbled 3 percent.

The newly resurgent Sony also is interested in the Fox assets, positioning itself as the safe path from a regulatory perspective, according to sources.

Those assets would offer the opportunity for both Comcast and Disney to broaden their global distribution footprint.

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