- Disney is close to a deal with 21st Century Fox, CNBC reported Tuesday.
- The news sent shares of Fox higher while Disney slumped.
ADVERTISEMENT
Disney slides on news its close to deal with Fox (DIS, FOXA)
Disney could acquire 21st Century Fox's production assets at a value of $60 million, CNBC reported Tuesday.
It’s not the first time reports of a potential deal between Disney and the Rupert Murdoch-controlled company have surfaced, but this time CNBC says a deal could be finalized as soon as next week, with Fox's enterprise valued at $60 billion.
The deal would add to Disney’s portfolio of move franchises and production bandwidth as it prepares to yank its content form Netflix and launch its own streaming service. Fox would be left with its news and sports assets.
Shares of 21st Century Fox jumped 3.8% on the news to near $34.45 a share. The valuation would be a slight premium to the company’s $58 billion market cap as of Tuesday morning.
ADVERTISEMENT
This story is developing. Stay tuned for updates.
JOIN OUR PULSE COMMUNITY!
ADVERTISEMENT
Eyewitness? Submit your stories now via social or:
Email: eyewitness@pulse.ng
ADVERTISEMENT