Disney may purchase parts of 21st Century Fox

Could we finally see the X-Men join forces with the Avengers on the silver screen?

Shares of 21st Century Fox (FOX) jumped 10% after two news outlets reported Fox has been in talks to sell a sizable part of the company to Walt Disney.

Disney (DIS) shares rose 2% on the reports.

Talks about a possible deal between the two media giants, reported by CNBC and The Wall Street Journal, were not confirmed by USA TODAY. Fox declined to comment. According to CNBC, the talks took place over the past few weeks, but there is no guarantee a deal will be finalized. The two sides, according to CNBC, are not in talks at the moment.

21st Century Fox would not sell its news or sports properties, including Fox News and Fox Business Network, to Disney, nor would it give up its broadcast affiliates. Instead, Fox could give up its movie studio, 20th Century Fox, and TV production assets, including the National Geographic and FX cable channels.

Traditional entertainment heavyweights are jostling for scale and content as they fend off the burgeoning entertainment offerings of what used to be mostly distribution platforms, including Facebook and Google, as well as streaming powerhouses Netflix and Amazon. In August, Disney announced a new direct-to-consumer streaming service to compete with Netflix that will cut Netflix out of much of its content mix.

Though Fox's film division has struggled of late, it does have several popular franchises, including James Cameron's Avatar and the X-Men.