FOXY MOUSE
Murdoch movie-biz empire eyes a sale to Disney
THE HOUSE of Mouse may soon be the new owner of a majority of 21st Century Fox’s film and TV properties.
Walt Disney Co. is in talks to buy the movie and TV production studios of Rupert Murdoch’s 21st Century Fox, CNBC reported, citing sources familiar with the matter.
Shares of Fox jumped Monday on the heels of speculation that Murdoch might be unloading the entertainment segment of his Los Angeles-based company — even though the talks were described as on and off .
If a deal were struck, it would not include Fox News Channel, according to one person familiar with discussions. Disney, which already owns ABC, can’t own two broadcast networks.
Fox’s regional sports network would also be carved out of any sale, the source said. The move would beef up Disney’s media conglomerate, allowing it to better compete with tech giants such as Google, Amazon and Netflix, which has in recent years invaded Hollywood with original programming of their own that’s proven wildly popular and critically successful.
It would also give Disney the muscle to compete against other large companies that are trying to set up big mergers, such as AT&T’s attempt to meld with Time Warner, owner of CNN and HBO. The sale would expand Disney’s programming and increase its international reach, analysts said.
Disney also currently has plans to launch its own movie streaming service in 2019. Owning the massive library at 20th Century Fox — the film and TV arm of parent company 21st Century Fox — would prove a hefty draw for potential users.
It includes everything from “Avatar” to the “X-Men” franchise.
The sale would also send ripples throughout the Marvel universe — which Disney acquired in 2009 — and would come as welcome news for fans longing to see the “X-Men” and “Fantastic Four” characters in the same world as “The Avengers.”
Disney would also tack on TV channels like FX and National Geographic.
Fox’s shares opened at $24.97 in the morning and closed at $27.45, a gain of 10%.
Disney shares rose 2%, to $100.64.