Walt Disney Co (NYSE:DIS) and Twenty-First Century Fox Inc Class A (NASDAQ:FOXA) are said to be near a deal after about a month of unverified reports that a transaction is near. The Walt Disney-Fox deal is reported to be valued at more than $60 billion.
Twenty-First Century Fox said to choose Disney over Comcast
CNBC and Bloomberg reported the news of the Walt Disney-Fox deal on Tuesday morning, both citing unnamed sources familiar with the negotiations. CNBC has been reporting that negotiations are underway between the two media and entertainment giants for weeks, although neither Walt Disney nor Twenty-First Century Fox has verified that negotiations are going on.
It's no secret that this year has been a volatile one for the markets. The S&P 500 is down 18% year to date, while the Nasdaq Composite is off by 27% year to date. Meanwhile, the VIX, a key measure of volatility, is up 49% year to date at 24.72. However, it has spiked as Read More
Over the last few weeks, CNBC has also been reporting that talks were underway between Twenty-First Century Fox and Comcast, its parent company. However, it clarified this morning when updating the status of the reported talks that Fox’s negotiations with Disney “have progressed more significantly.”
According to Bloomberg’s sources, Fox would rather sell its assets to Walt Disney “because it’s a better strategic fit and presents fewer regulatory hurdles.” The media outlet’s sources also re