Reports: Disney Closes in on Fox Deal

Walt Disney Co. is closing in on a deal to buy the media assets of Twenty-First Century Fox Inc., according to media reports Tuesday. Reuters, CNBC and others cautioned, however, that no deal was imminent between the Burbank entertainment and media giant and Fox as several issues still need to be worked out. CNBC reported that Disney would acquire the Twentieth Century Fox movie studio and television production assets as well as selected international holdings in India and United Kingdom in addition to cable networks FX and National Geographic. The cable news outlet put the value of the deal at $60 billion. Reuters reported that the Murdoch family, which controls Fox, leaned toward a deal with Disney because it preferred being paid in Disney stock and would expect a deal to be cleared by U.S. antitrust regulators more easily. Comcast Corp., which owns NBCUniversal in Universal City, also figured as a potential buyer for Fox’s media assets, Reuters said. Shares in Disney (DIS) closed down $3 or 2.7 percent, to $107.22 on the New York Stock Exchange.