LONDON: Walt Disney is close to confirming a deal to buy 21st Century Fox’s entertainment assets for about $60bn, reports say.
The sale would include the 20th Century Fox film studio and the Sky and Star satellite broadcasters in the UK, Europe and Asia.
Disney was left as the front runner after Comcast, the NBC owner, dropped out of the race on Monday.
The Financial Times said talks about the price were continuing on Tuesday.
CNBC reported that Fox and Disney were on a “glide path” for an announcement on Thursday, according to people familiar with the negotiations.
The Murdoch family was said to favour a deal with Disney because it would rather be paid in the entertainment giant’s shares than Comcast stock. A deal with Disney could also face fewer US regulatory hurdles, although it is extremely unlikely to be waved through.
Also in question is what will happen to 21st Century Fox’s bid to buy the 61% of Sky that it does not already own.
The deal is already under scrutiny by the UK Competition and Markets Authority (CMA), which is expected to publish its provisional findings in January.
It is not clear whether Disney will continue with the takeover if it buys the 39% stake from 21st Century Fox as part of the wider transaction.
Matthew Horsman, analyst at Mediatique, told Variety magazine that the CMA is likely to continue probing the deal. “They’ve done all the work. I’m pretty sure they’re going to announce a decision,” he said.
