The Walt Disney Company's talks to acquire portions of 21st Century Fox are progressing, with unnamed sources saying could be formally announced by December 15, according to CNBC. CNBC confirms that its parent company, Comcast Corporation, continue to be in talks as well but Disney's angle have "progressed more significantly."
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."
CNBC's sources state that in Disney's proposed deal for these Fox assets, the enterprise value is over $60 billion. Under the deal, current Fox shareholders would retain their shares in the slimmed-down company as well as new Disney stock in a fixed exchange ration.
In addition to Disney and Comcast, both Sony and Verizon Communications have been previously named as potential suitors.