Comcast talking to Fox about a deal, source says
- Author: Theresa Obrien Nov 20, 2017,
Nov 20, 2017, 1:56
Shares of other media companies which could be dragged into a round of consolidation of USA film and TV production and distribution were largely unchanged. Those assets would include much of Fox's domestic broadcast operations, but would also include worldwide assets such as its stake in European broadcaster Sky.
Murdoch and his sons Lachlan and James, who hold key roles in his media empire, have remained mum on their plans for 21st Century Fox, which includes the Fox Hollywood studios, and broadcast and cable operations Sky, which has a presence in Austria, Britain, Germany, Ireland and Italy.
"Either Disney or Comcast would be a good fit, but its always about price and neither has to be a strategic buyer, only opportunistic", said JBL Advisors analyst Jeffrey Logsdon.
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While Disney's interest in taking over 21st Century Fox may lie in regaining rights to the X-Men and Fantastic Four, as well as adding to their catalog for their forthcoming streaming service, the other parties are said to be interested in the United Kingdom pay-TV company Sky - one of 21st Century Fox's many worldwide assets.
Last week, unconfirmed reports said Fox rival Disney held similar talks without any agreement. "That´s enough for other companies to get their bankers working on something to attempt to get a meeting of their own", he said.
Reports late Thursday said Comcast is in talks to buy some of the assets of Rupert Murdoch's Fox.
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Fox and Disney are partial co-owners of Hulu, a streaming service that offers on-demand and live TV packages. Fox would be left with its assets including its cable news outlets and broadcast channel, including local stations.
Fox shares rallied more than six percent to end at $31.15, the highest level since April.
The Twentieth Century Fox movie studio reportedly is in play, with no mention of the Blue Sky Studios animation shop based in Greenwich that is readying to release "Ferdinand" in mid-December, its animated feature film treatment of the classic children's storybook.
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