Fox and Disney Held Purchase Talks: CNBC
CBJ — According to a report by CNBC, Twenty-First Century Fox has been in talks that would see it sell a portion of its media assets to Walt Disney Co.
According to the report, talks have since broken off and it’s unclear whether they will start up again or if both sides have moved on sans agreement.
Disney, which already owns a vast amount of media properties, including ABC, would be ineligible to acquire a certain amount of Fox’s holdings due to a U.S. law that prohibits one company from having majority ownership in two or more major broadcast networks. That would assuredly mean not purchasing Fox Sports, as it is deemed to be a direct competitor to ESPN. It would likely mean acquiring properties such as FX and National Geographic.