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Disney close to sealing $60bn deal for Fox and Sky stake - reports

By Conor Coyle

Date: Wednesday 13 Dec 2017

Disney close to sealing $60bn deal for Fox and Sky stake - reports

(ShareCast News) - Walt Disney is reportedly set to secure a $60bn deal to buy 21st Century Fox's entertainment assets, including its 39% stake in UK broadcaster Sky.
US media giant Comcast was also said to have been interested in acquiring the assets, but pulled out of the potential purchase earlier this week.

The move from Disney was said to include movie studio assets, TV production assets and other international operations.

Reports suggested that Fox owner Rupert Murdoch and other senior executives were leaning towards streamlining the company's efforts towards focusing on news and sports, while offloading its entertainment operations.

Fox has been engaged in an attempt to take full control of Sky for the last year, and the closure of the deal would allow Disney to take charge of the UK broadcaster.

UK regulators are currently scrutinising Fox's £11.7bn bid to take full control of Sky, with the government having admitted some concerns about broadcasting standards and UK media plurality.

Other assets involved in the potential deal include 22 regional sports networks, as well as the FX and National Geographic channels.

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