Twenty-First Century Fox And Walt Disney Said To Be In Talks

Twenty-First Century Fox And Walt Disney Said To Be In Talks
harryHermione / Pixabay

Twenty-First Century Fox stock surged on Monday after a report that it is negotiating with Walt Disney to sell most of itself to the House of Mouse. The deal between Fox and Disney is said to be aimed at leaving the former’s news and sports properties and selling the rest to the latter.

Fox and Disney are in on again, off again talks

Citing unnamed sources familiar with the negotiations, CNBC reports that Fox and Disney have been holding talks about a deal, although the two companies are no longer negotiating. The talks reportedly took place within the last few weeks, and it’s not certain they will firm up a deal. Additionally, the negotiations are described as being of an “on again, off again nature,” so they may be “revisited” at some point.

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.” Fox management reportedly believes that the most important near-term goal is scale within media and that acquisitions will not provide a path toward gaining the desired scale.

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