21st Century Fox, The Walt Disney Co in game-changer buyout talks
21st Century Fox and The Walt Disney Company are reportedly in talks, wherein the former is proposing to offload most of its companies, including Star, Sky, FX, National Geographic, along with movie studio and TV production to Disney.
According to a CNBC report, the buyout talks include most assets of 21st Century Fox barring its news and sports businesses. Though the talks are at a preliminary stage and have been held intermittently, the implications for the entire media industry globally are significant.
No further details regarding the valuation of the deal or its structure were forthcoming at the time of filing this report.
Meanwhile, according to a Quartz Media report, the reported acquisition talks are with an eye on combating the spread of Netflix. As is known, Disney is gearing up to launch its own video streaming service, which will be in direct competition with the likes of Netflix and Amazon Prime Video.