Walt Disney Company is trying to continue their dominance in film and television with their latest power move. CNBC is reporting that Disney is early talks to buy a portion of Fox. The two companies have been in talks for several weeks.
Fox would change its growth strategy and focus on news and sports, according to people familiar with the situation. The talks have taken place over the last few weeks and there is no certainty they will lead to a deal. The two sides are not currently talking at this very moment, but given the on again, off again nature of the talks, they could be revisited.
Disney already owns a large portion of the biggest media companies, Lucasfilm, Marvel Studios, ABC, ESPN, and they even own 47% of Amazon. Disney is interested in 21st Century Fox, which includes FX, Nat Geo, and the 20th Century Fox movie studio. The company has also announced plans to launch their own digital service to compete with Netflix and Hulu.
The potential deal would not include the Fox broadcast network.“Fox’s sports programming assets in the belief that combining them with ESPN could be seen as anti-competitive from an antitrust standpoint,” and the sale would not include Fox News or Fox’s business channel.
For comic book fans, this can be the beginning of a new era with Disney taking back the rights to many of Marvel’s characters. The Avengers movies could refer to mutants, Wolverine could become an Avenger, and Deadpool could team up with Spider Man. Ok. Maybe not the last one, but you get the point.