Monday, December 4, 2017

Monday's Headlines - Fox sales talks resumed, with Disney & Comcast

The 21st Century Fox sales talks have resumed, with both the Walt Disney Company and Comcast Corps re-engaged in active discussions, according to The Wall Street Journal. Rupert Murdoch and his family own 39% of Fox's voting shares, and are said to be pushing for a deal by the end of this year.

21st Century Fox is reportedly aiming to focus on its news and sports division, and sell off outside assets including its movie and tv studios, and its stake in various networks such as Fox, FX, Sky, and Star TV. That would also include the film rights for Marvel Entertainment's Fantastic Four and X-Men, some distribution rights to the earlier Star Wars films, ,partial ownership of BOOM! Studios, and a stake in Hulu (Disney and Comcast each own stakes already).

The talks of a Fox sale begin in November when Disney reportedly reached out to Fox to open negotiations. According to Variety, those initial talks broke down over "price and other terms." Although that alleged price is unknown, the Hollywood trade quotes industry analyst Michael Nathanson with a $48.5 billion evaulation for the assets reportedly for sale - with $15b of that being the film and TV production operation and library.