Disney Has Held Talks to Purchase 20th Century Fox

Chelsea West
November 7, 2017

Fox's claim to the X-Men has kept a number of key stories from Marvel's comics involving mutants off the table for Marvel Studios in the past, but this deal could lay the groundwork for something like an Avengers vs.

The two sides aren't talking now and the negotiations, which took place over the last few weeks, may not lead to a deal, CNBC said.

With Fox's entertainment assets, Disney C.E.O. It would be barred from buying the Fox broadcasting network and was not in talks to buy local affiliates, Fox News or Fox Business Channel.

The deal would apparently see Fox let go of its scripted content and exist as a "media company tightly focused on news and sports" thereafter. It also wouldn't buy Fox's sports programming properties because combining them with ESPN could present antitrust issues. Apple, which also reportedly eyed the company, has always been seen as a potential buyer for Disney.

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Oswald the Lucky Rabbit came home to Disney after Iger agreed to turnover a legendary character of its own by releasing Al Michaels form his ABC Sports contract so he could move to NBC.

Sheikh said he is surprised that the Murdoch family, which controls 21 Century Fox, would consider giving up control of the company. At the moment, it's rare for sports to be cited as having a major impact on 21st Century Fox overall; it does occasionally happen, with a Credit Suisse analyst citing declining National Football League ratings and issues over Fox's attempt to buy the rest of Sky as reasons to downgrade the stock last month, but it's not like Disney, where every earnings call becomes a referendum on ESPN.

Fox's shares jumped 9.9 percent to close at $27.45 on Nasdaq, and Disney shares climbed 2.0 percent to $100.64 on the New York Stock Exchange.

Shares of both Disney and Fox are down year-to-date, as the acceleration of cord-cutting and a weak box office have provided some media headwinds.

Other reports by TheSundaySentinel

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