Disney's bid for Fox assets gains momentum say sources

Credit Perception Animation

According to the LA Times, Disney's board would extend Iger's contract to help the company navigate the significant regulatory hurdles needed to finalize any Fox buyout deal, and to oversee integration of Fox properties within Disney. They spoke on the condition of anonymity because the negotiations are confidential.

Disney did not immediately respond to request for comment from TheWrap.

"At the beginning of this year, Fox was the only buy-rated stock I had because it was so depressed relative to everything else in the sector", Wieser said.

"It's always good to look at what's going to create the most value for our shareholders", he told attendees.

A new detail in Disney's renewed pursuit for 21st Century Fox assets is the reported sale of Fox's regional sports networks, which could provide a big boost for ESPN.

Following the WSJ report on Wednesday that the two companies were closing in on a deal, the Financial Times reported James Murdoch was "suggested" as a possible replacement for Iger in 2019. The deal will leave Fox with only its broadcast network, Fox Sports, and news and business divisions.

Sky shares were up 1.3pc to £9.89 in afternoon trade.

Reuters reported in November that Comcast, which is the largest USA cable provider and has a market value of around $188 billion, had expressed interest in Fox assets.

The agreement, which would acquire the approval of federal regulators, would include 20th Century Fox film studio, 20th Century Fox Television, FX Networks, and a majority stake in the streaming service Hulu.

Those assets would offer the opportunity for both Comcast and Disney to broaden their global distribution footprint.

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