Tuesday, 12 December, 2017

Disney's bid for Fox assets gains momentum

The Associated Press The Associated Press
Stacy Diaz | 06 December, 2017, 15:40

Bradley also asked the regulator to scrutinise whether the deal would give him too much influence at the heart of the British media.

The Walt Disney Company is giving serious thought to appointing James Murdoch as its next CEO, providing the Mouse House closes a deal for 21 Century Fox's entertainment arm.

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.

According to CNBC, talks resumed shortly after word of the acquisition surfaced last month, and Disney and Fox are "getting closer to a deal".

Disney intends to buy all media production (television and studio) assets for a reported $60 billion or more, while Fox will retain most sports and all news assets, according to CNBC. Comcast, global telecommunications conglomerate and owner of NBC and Universal Pictures, is also bidding to acquire Fox's assets. Any deal for Fox would include the remaining stake in Sky, sources have told Reuters.

Shares in Disney (DIS) closed down $3 or 2.7 percent, to $107.22 on the New York Stock Exchange.

Off the bat, Disney would gain the complete catalog of Star Wars live action films that Fox now owns, including the rights to the original soundtracks of those films.