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Darth Sidious

Disney and 21st Century Fox closing in on $60 Billion acquisition deal

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Disney and 21st Century Fox are closing in on a deal on their much talked about acquisition deal, according to sources familiar with the matter.

Various media outlets have now been reporting that Disney has held talks with the Rupert Murdoch-controlled media company to acquire its studio and television production assets, leaving Fox with its news and sports assets. Fox is also talking with CNBC parent company Comcast, but the talks with Disney have progressed more significantly.

The deal contemplates the sale of Fox's Nat Geo, Star, regional sports networks, movie studios and stakes in Sky and Hulu, among other properties. What would remain at Fox includes its news and business news divisions, broadcast network and Fox sports.

The enterprise value of the Fox assets in the Disney deal is seen as above $60 billion, according to sources. Current Fox shareholders would get one share of the Fox company that remains after the movie and television assets are sold plus shares of Disney in a fixed exchange ratio.

If the deal occurs, which insiders expect to be announced possibly within the week,  the combined revenue between the two companies will make the Walt Disney Corporation the second biggest media corporation in the world, second only to Alphabet Inc (the parent holding company of Google), and the biggest in the world in terms of traditional media.    

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