Buzz It Up News

Now Sony Wants To Acquire 20th Century Fox


Buyers have expressed interest in Fox's production studios, cable networks FX and National Geographic, and global assets such as the Star network in India and Sky Plc, sources told Reuters on Thursday.

Murdoch and his sons Lachlan and James, who hold key roles in his media empire, have remained mum on their plans for 21st Century Fox, which includes the Fox Hollywood studios, and broadcast and cable operations Sky, which has a presence in Austria, Britain, Germany, Ireland and Italy.

Shares of other media companies which could be dragged into a round of consolidation of US film and TV production and distribution were largely unchanged. 21st Century Fox was carved out as a separate entity from News Corp.in 2013 amid a scandal involving the United Kingdom newspaper division and concerns that the financial challenges of the publishing businesses were dragging down the value of Fox media and entertainment assets. This could also include global assets such as Star and Sky that Fox now owns.

Last week, unconfirmed reports said Fox rival Disney held similar talks without any agreement.




Comcast and Verizon declined comment. Adding Fox to that would give them a truly compelling library for their new streaming service. "Time Warner-Fox or Disney-Fox", Needham & Co analyst Laura Martin told Reuters.

The companies have inquired about Fox's movie and television studios, entertainment cable networks and global businesses, CNN reported.

"(I am) skeptical of a Verizon deal, creative businesses are very tough to manage for an outsider", Logsdon said. As of right now, Fox owns a 39% stake in the company, however, it's previously announced its intention to buy the rest of Sky, with the hope that the deal would close by mid-2018. Fox is said to be selling most of its entertainment assets in order to focus more on news and sports, but with a lot of big titles under its belt, just how much are they planning on selling?

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