Walt Disney Co. and 21st Century Fox have had discussions to merge, according to media reports.
The Burbank entertainment and media giant has reportedly engaged in on-and-off discussions with Fox but talks are not currently taking place, CNBC and Wall Street Journal have reported, citing unidentified insiders at the companies.
A merger scenario would have Disney taking on many of Fox’s media assets, which includes film studio 20th Century Fox and Fox television network. Fox in turn would be more focused on news and sports, the media reports said.
21st Century Fox was created in 2013 after being spun off from News Corp., the company controlled by billionaire Rupert Murdoch.
Shares in Disney closed Monday up $2, or more than 2 percent, to $100.64 on the New York Stock Exchange.