With all the talk about Disney buying FOX you may have missed that Comcast was also trying to buy part of FOX. Now Comcast is walking away from that deal according to a statement from Comcast Corp on Monday.
This will leave the Walt Disney Co as the sole buyer for what is reported to be most of FOX.
This deal will include most, but not all of, Fox properties. According to reports, Fox will keep ownership of their news and sports channels including FS1 and FOX News. Fox will also keep ownership of their local Fox affiliates around the United States.
Recently a new wrinkle has come up as it is being reported that Disney now wants Fox to also sell their regional sports networks to Disney. According to reports, Disney intends to use these networks to boost ESPN likely rebranding them as ESPN networks. This could be a significant bump in the road for a deal that is not yet done. FOX has been said to want to keep their sports networks that are valued at $22.4 billion.
Disney will be buying Twenty-First Century Fox, the TV and movie studio. According to reports, this will also give them ownership of the back catalog of Fox shows. Fox is reportedly hoping that sports and news will be more resistant to cord cutting because Americans still largely watch news and sports live.
It is rumored that this deal will be valued at above $60 billion. This could make the Disney purchase of Fox one of the largest deals ever seen in the world of entertainment.
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