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The media industry collectively gasped on Monday after CNBC reported that Disney has been in acquisition talks to acquire a large chunk of 21st Century Fox.
There’s no deal yet, and CNBC reported that specifics like what would be included and how much it would cost haven’t been hammered out. But even the prospect of such a deal was enough to send media reporters into a dither and traders rushing to buy up Fox shares, which spiked 6 percent just moments after the new broke.
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It would be a huge move. Disney would reportedly buy up Fox’s movie studio and some of its TV assets, but not its news and sports offerings or its broadcast channel. That would conceivably give Disney a variety of valuable content including the “X-Men” franchise and “The Simpsons.” Read more…
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