CNBC says Disney ‘closing in’ on deal to buy most of Fox

Walt Disney Co. logo

CNBC reported today that Walt Disney Co. is “closing in” on a deal to buy most of 21st Century Fox, including the 20th Century Fox movie studio.

The financial news network said a deal may be announced as early next week. CNBC cited people it didn’t identiy

CNBC originally reported Nov. 6 that the two sides had conducted negotiations. At that time, CNBC described the talks as on again, off again and that negotiations weren’t currently underway.

Now, CNBC said, “The deal contemplates the sale of Fox’s Nat Geo, Star, regional sports networks, movie studios and stakes in Sky and Hulu, among other properties. What would remain at Fox includes its news and business news divisions, broadcast network and Fox sports.”

Such a transaction has the potential to shake up entertainment properties. Disney owns Marvel. But Fox controls key Marvel properties such as the X-Men and Fantastic Four. Also, Fox performs home video distribution for James Bond films.

Comcast, parent company of Universal, NBC and CNBC, has also been in talks with 21st Century Fox. However, “the talks with Disney have progressed more significantly,” according to today’s CNBC report.

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