March 20, 2018

Iger Reportedly Set to Extend Contact if Fox Deal Closes

08 December 2017, 01:27 | Rufus Hill

Disney is about to purchase Fox for an unprecedented $60 billion

Report: Disney Will Acquire Fox Sports Regional Networks in Massive Sports Media Shakeup

That's because in addition to Fox's movie and television studio, FX networks and Hulu, Disney would reportedly also assume control of Fox's 22 regional sports networks, which include both Fox Sports Ohio and SportsTime Ohio. Furthermore, the Journal suggests that, were a deal to happen, it likely wouldn't close until late next year.

Fox is exploring a potential sale as it is has been considered undervalued relative to its peers, said Brian Wieser, an analyst at Pivotal Research. And it may go to Fox Chief Executive James Murdoch.

Following reports that Disney could acquire 21st Century Fox in a deal that could be announced soon, Marvel fans are already thinking ahead.

Losing the regional networks would leave Fox with a skimpy sports portfolio - the Fox broadcast network that airs NFL games and other sports including Major League Baseball's World Series.

Shares of Disney fell to session lows on the news before settling down 1.58 per cent at $105.53 apiece.

Polygon has reached out to both Fox and Disney for comment on the reports of a deal, which have not been confirmed.

It is unclear if any Disney deal would be conditional on Fox's Sky bid succeeding, but today CNBC journalist Daniel Farber said: "It's my understanding that Disney would want to own all of Sky".

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

They would also be a source of new content at a time when companies like Inc and Netflix Inc are spending billions to bulk up on programming. Meanwhile, AT&T and Time Warner are seeking approval for an $85 billion mega-merger.

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