21st Century Fox update
In recent weeks, there have been reports about 21st Century Fox (FOX) (FOXA) engaging in discussions that could result in the conglomerate selling a portion of its assets. Fox executives have been largely silent over the matter.
The media giant’s co-executive chairman, Lachlan Murdoch, and CEO, James Murdoch, didn’t address the topic at the company’s conference call with analysts to discuss its fiscal 1Q18[1. fiscal 1Q18 ended September 30, 2017] results.
Fox had been said to be in discussions to sell a significant portion of its entertainment business to Walt Disney (DIS). Although at some point it was reported that the talks between Fox and Disney had stalled, it has emerged that Fox continues to engage in discussions to sell its entertainment assets.
Furthermore, it appears that a growing number of potential suitors are lining up for Fox’s entertainment business.
Interest aside from Disney
According to media reports citing industry sources, Comcast (CMCSA) and Verizon (VZ) are also said to be focused on bidding for Fox’s entertainment assets. These assets include the 20th Century Fox film and television studio, cable networks such as FX and National Geographic, and overseas television operations such as Sky Network, which is one of the largest pay-TV companies in Europe (EFA).
Because Fox is said to be only engaging in preliminary discussions with potential buyers of its entertainment operations, there is no guarantee that the talks could yield a deal.