Disney has held talks to buy Fox entertainment assets
ASSOCIATED PRESS
21st Century Fox has been engaged in talks to sell its movie and television production studios to Walt Disney Co., according to a person familiar with the matter who was not authorized to comment on the discussions.
Rupert Murdoch’s 21st Century Fox has been engaged in talks to sell its movie and television production studios to Walt Disney Co., according to a person familiar with the matter who was not authorized to comment on the discussions.
CNBC reported that Murdoch’s media company might be interested in unloading many of its Los Angeles-based entertainment properties.
Fox News would not be part of any sale, one person familiar with the talks said.
Such a sale would make Disney a more formidable media conglomerate at a time when AT&T is trying to swallow Time Warner Inc., owner of CNN and HBO, and technology companies are creating original content. Bulking up would also allow Disney to better compete with tech giants such as Google and Amazon that are making inroads into Hollywood.
Owning the rich 20th Century Fox film library would be a boost to the Disney-branded movie service the company plans to launch in 2019. Fox’s TV networks include the FX cable channel and National Geographic.
The corporate parent is 21st Century Fox; the film and TV studio is 20th Century Fox.
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Fox declined to comment. Disney representatives were not available for comment.
