Fox has reportedly held talks with Walt Disney to sell almost entire Fox, CNBC reported on Monday. According to the report published by CNBC, both parties held talks in the last few weeks, Fox managers are pondering to sell the company to Walt Disney because they think Fox is not able to compete for the major media players like Amazon, Netflix on its own.
Both the companies were not immediately available for the comment,
According to US law and regulation one company cannot own two or more broadcast networks in the country, therefore, Disney may not be able to buy the entire Fox Company.
Further, Disney will not seek to buy Fox sports channel and programming assets because of the fear antitrust laws with its own ESPN network. Also, Disney would not buy Fox News or local broadcasting affiliates, the report said.
Disney is most probably going to acquire movie studio, TV production and other international assets such as Star and Sky B, Disney would also purchase entertainment network FX as well as the National Geographic channel according to the report.
Fox is an international broadcasting company founded in 1985 and headquartered in Los Angeles, the 20th century Fox owns strategic TV channels including Fox News, Fox Sports, Sky, Star, National Geographic and many others