Sources claim Disney and Fox are close to reaching a deal, might announce plans next week

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We reported earlier last month that Disney and 21^st Century Fox have been in talks for the former to acquire Fox’s studio and television production assets, with Fox retaining its news and sports arms. And report has it the two are close to reaching an agreement, even with Comcast in the picture, and sources claim the deal could be announced as early as next week. The deal will have Disney owning entertainment assets like 20^th Century Fox film and TV studios, FX Networks and National Geographic Cannels cable groups, regional Fox Sports and 39% interest in Euro satcaster Sky, as well as international channels like Star India outlet. Disney is also supposedly buying out Fox’s 30% interest in Hulu, which is seen as Disney’s initial step to building its standalone streaming service. The deal is expected to be an all-stock transaction with Fox’s assets valued at around US$60 billion.

The move is also seen as a way to resolve Disney’s CEO succession issue. Bob Iger has had to extend his contract twice since setting his retirement back in 2015. But with the likes of 21^st Century Fox CEO James Murdoch and 21^st Century Fox President Peter Rice in the mix, they’re seen as possible candidates to replace Iger.

Source:  Variety + CNBC