Walt Disney 'closing in on Fox deal'
Walt Disney, the entertainment giant that owns cable sports broadcaster ESPN, is in advanced discussions to buy significant parts of 21st Century Fox, the international film and television company.
Fox, which is headed up by media mogul Rupert Murdoch, is also in negotiations with Comcast about a deal, but the talks with Disney are progressing at a quicker pace, sources told the New York Times.
Under the terms of the talks, Disney would buy big parts of Fox’s empire in an all-stock transaction, including its movie and television studios, international assets like the Star cable and media company in India and stakes in the UK broadcaster Sky and the Hulu streaming service.
James Murdoch (pictured), Fox’s chief executive, could take a senior executive role at Disney with oversight of the Sky and Star companies as part of his portfolio.
Fox would keep its news and business news divisions, its broadcast stations and Fox Sports, the sources said, and would be overseen by Rupert Murdoch and his other son, Lachlan.