21st Century Fox Considering Selling Much of Itself to Disney

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21st Century Fox has been holding talks about selling most of the company to Walt Disney Co., except for media properties focused tightly on news and sports, people familiar with the situation tell CNBC.

The two sides are not now talking at this moment, but given the on again, off again nature of the talks, they could be revisited.

Disney and Fox declined to comment on the CNBC report. Disney would also not be buying any of FOX's cable news or sports channels, the latter due to worries that combining them with Disney-owned ESPN could be seen as a violation of antitrust rules.

SuperHeroHype will keep you up to date on any new movement on this potentially momentous deal! In animation, Fox also has the Ice Age franchise.

The road to a possible deal is sure to be rocky, but just the hint of it sent shockwaves through the entertainment and business worlds. And while the company's library of Lucasfilm and Marvel projects (along with Disney and Pixar films) is both extensive and appealing, the addition of Fox movie and television projects to the mix would certainly broaden the scope of what such a stand-alone streaming service (or services) might offer. If and when Disney is back in possession of the rights that 21st Century Fox now holds, it would mean that Marvel Studios could finally bring a number of classic Marvel properties such as the X-Men and the Fantastic Four into its shared cinematic universe.

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Fox's stock is up more than 7% on the reports from CNBC and The Wall Street Journal, which cite unidentified insiders and describe negotiations not now being held. And more resources could perhaps be diverted to sports in a leaner company, allowing Fox to possibly pick up bigger rights packages.

It'd definitely be interesting.

It is not known if Murdoch, who is now the Executive Co-Chairman at 21st Century Fox, wpould maintain a role inside the company or if he would take some time off to celebrate being newly Wednesday for the third time to supermodel wife Jerry Hall.

Shares of Twenty-First Century Fox jumped by about 10% to as high as $27.49 after CNBC's report, while Walt Disney shares surged by almost 3% to as high as $101.12. As a result, the deal is now effectively dead, though it should be noted that in Hollywood, deals do have a tendency to be resurrected after being officially announced as dead; the current deal between Sony and Marvel to share Spider-Man went through that very news cycle.

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