jh-siesta.com January 22, 2018

Fox held talks to sell most of company to Disney

08 November 2017, 12:33 | Sammy Green

Michael Loccisano Getty Images File

21st Century Fox in Talks to Sell Most of Company to Disney Sources

Update: Welp, that didn't last very long, did it?

But corporate deals have a tendency of coming back from the dead, especially in Hollywood. Meaning that, just because the deal is taking a dirt nap today, does not mean that it won't be resurrected tomorrow. While some have already begun speculating about this potentially exciting news, sources close to Fox have said that the company wishes to move forward while focusing its efforts on the news and sports arenas of the entertainment world.

Fox had previously sought to avoid a CMA investigation by promising it would allow editorial independence at Sky News and that it would keep investing in the channel for at least five years should its deal to take control of Sky be approved.

Precisely what assets are up for grabs remains to be seen, but the CNBC reports suggest that Murdoch would retain the Fox News divisions - said to be US President Donald Trump's news diet of choice - whilst selling on the 39-percent stake in Sky.

It goes without saying that the landscape of entertainment is changing not by the day, but by the minute thanks to far-reaching outlets like Facebook, Google, Amazon, Netflix, Hulu, YouTube and countless others.

If Fox and Disney were to come to an agreement, Fox wants to sell most of itself to Disney and leave behind "a media company tightly focused on news and sports". The gains continued on Tuesday with 21 Century Fox up 3.5 percent mid-morning and Disney shares up another 2 percent. The reason for this is that the company could not own two broadcast networks and, as a result, could not purchase the Fox broadcasting network. Yeah, it's the same thing, kinda.

EFFECT ON SPORTS? Former FCC Omnibus Broadband Initiative Exec Dir Blair Levin said of a potential deal not involving Fox Sports assets, "I don't know that the antitrust regulators would regard sports as a separate content network, but ... they might since (ESPN) is the primary network that people watch live, and therefore, that changes everything in terms of audience and advertising share" ("Power Lunch", CNBC, 11/6). It would not sell its news or sports properties, including Fox News and Fox Business Network, to Disney, nor would it give up its local broadcast affiliates.

Talks about a possible deal between the two media giants, reported by CNBC and The Wall Street Journal, have not yet been confirmed by USA TODAY. I might actually get a proper FANTASTIC FOUR movie in the near future! It also owns video on demand (VoD) service Hotstar and a movie production and distribution business Fox Star Studios.

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