Disney-Fox deal could reportedly come as soon as next week

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The Twenty-First Century Fox Studios logo is seen in Los Angeles, California U.S. November 6, 2017. Reuters/Lucy Nicholson

Disney is supposedly close to sealing a deal with 21st Century Fox for the Walt Disney Company to purchase the New York City-based mass media corporation. Following reports that 21st Century Fox intends to sell off most of its assets, a deal with Disney will reportedly be announced soon.

So far, there has been no official announcement from executives. But a source revealed via CNBC that a deal between Walt Disney Company and Twenty-First Century Fox could come as soon as next week. The news organisation previously reported that Disney has held talks to acquire the Rupert Murdoch-controlled media company’s movie and television production assets.

The deal would also supposedly include Nat Geo, Star and their shares of Sky and Hulu. Fox will keep its news and business news divisions, broadcast network and Fox Sports.

Amid reports of the potential deal, Fox boss James Murdoch is considered a successor to Walt Disney chief executive Bob Iger, Financial Times reports. Rupert Murdoch and James, the former’s young son, could possibly take senior roles.

Iger is known as one of the most highly rated executives in media. He has been Disney’s boss since 2005.

It appeared that Disney was not the only one courting Fox; the latter was also supposedly undergoing discussions with Comcast. Another company that looked in contention to buy Fox's assets was Sony.

It could be a huge shift in both film and TV if talks with Disney advance. It has been reported that the company has been the frontrunner since news broke that 21st Century Fox is looking to sell its assets. Should Disney acquire 21st Century Fox, viewers may possibly see “Fantastic Four” and “X-Men” in the Marvel Movie universe as one of Hollywood’s major studios potentially becomes an arm of another major studio.

The potential deal with Disney specifically appeals to Marvel fans, as it means the Mouse House will be in control of the aforementioned titles. There is also the possibility of seeing Wolverine and Cyclops team up with The Avenger. Disney already owns a massive library of legacy titles, and it is also set to launch its own streaming service next year.

The potential Fox sale comes amid the entry of new players like Apple, Amazon and Netflix, which have been reshaping the media landscape. AT&T was in the midst of a takeover of Time Warner, but the US justice department sued to block the deal.