Disney, Fox reportedly on track for deal announcement Thursday

Mickey Mouse standing in Quebec City
Disney and Fox have reportedly both moved on to hiring legal teams and retaining services from financial institutions to assist in hammering out the details of the transaction. (Disney)

A Disney deal for 21st Century Fox assets now seems like an inevitability as new reports suggest the companies have entered a “glide path” toward a Thursday announcement for the deal.

With Comcast out of the running as of Monday, it’s now down to settling on a price for the assets. CNBC pegged that figure at around $60 billion, although it could still change.

According to the report, the company remaining after Fox sells its film and TV assets would trade at about $10 per share and that existing Fox shareholders would get one share of the remaining company.

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When reports first surfaced about a potential sale of Fox assets, several companies including Comcast, Verizon and Sony were said to be in the mix for a potential deal. But now it looks like Disney has emerged as the winner.

Disney would acquire most of 21st Century Fox. Disney would not buy Fox’s broadcast network or the Fox News or Business channels. But Disney could acquire Fox’s film and television studios, international assets like Sky and Star, Fox’s cable networks including FX and National Geographic, and Fox’s numerous regional sports networks.

Disney could also take hold of Fox’s 30% stake in Hulu, giving Disney a controlling interest in the streaming platform—Comcast/NBCUniversal owns 30% and Time Warner owns 10% of Hulu.

Disney and Fox have reportedly both moved on to hiring legal teams and retaining services from financial institutions to assist in hammering out the details of the transaction.

While it’s unclear what kind of executive shakeups might occur for either company in the wake of a deal announcement, reports have suggested that Disney CEO Bob Iger, who had planned to retire in 2019, could stay on longer to oversee the integration of the Fox assets into Disney’s corporate and business strategies.