Today it was reported by CNBC that FOX has been in talks about selling most of their assets to The Walt Disney Co. This would include a possible sale of 20th Century Fox to Disney for movies and TV production.
It is reported the Rupert Murdoc and his sons are looking at keeping their sports and news assets but selling off other parts of Fox. At this time it is unsure if they are looking at selling off cable networks like FX but it is reported that FOX would keep its Fox Broadcasting Co and ownership of their FOX local affiliates. For now, it looks like this deal is more about selling off the production assets and back catalog right now.
This would give Disney a more extensive catalog of movies and TV shows at a time they are looking at going direct-to-consumers to compete with Netflix in 2019. Currently, Disney owns the Marvel, Pixar, and Star Wars catalogs. Adding Fox to that would give them a truly compelling library for their new streaming service. This could also include international assets such as Star and Sky that Fox currently owns.
It is reported that FOX is hoping a news and sports focus would help them as the world of pay-TV is changing. Sports and news are events most Americans still watch live making them more valuable when looking at ads sales.
CNBC did add that these talks have been on and off for some time. This is breaking news and we will update the story as we learn more.
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