Sony Among Many Corporations Looking to Acquire Fox Movie Assets

Anita Tucker
November 20, 2017

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. Earlier reports stated that Walt Disney Company was in talks with the company, but that they'd failed to reach a deal, ending talks between the two.

The swirl of takeover talk around 21st Century Fox is only gaining steam as sources confirm Sony Pictures Entertainment has joined the list of companies making overtures to the Murdoch empire.

Disney was in talks to buy Fox's movie and TV production studios, cable networks FX and National Geographic and global assets such as the Star network in India and European pay TV provider Sky Plc, CNBC reported last week.

Another invitation to talks has come from Japanese electronics and media conglomerate Sony, according to the source.

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. Fox did not immediately respond to requests for comment.

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Sony Among Many Corporations Looking to Acquire Fox Movie Assets

The assumption is that the sale talk is a sign that Rupert Murdoch and his sons - 21st Century Fox executive chairman Lachlan Murdoch and CEO James Murdoch - are taking a hard look at growth prospects of Fox under its current structure if the Sky deal does not transpire. At this time it is unsure if they are looking at selling off cable networks like FX but it is reported that FOX would keep its Fox Broadcasting Co and ownership of their FOX local affiliates.

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At the same time, U.S. telecom and pay TV giant AT&T is seeking to close its planned $85 billion deal for media-entertainment group Time Warner amid concerns of a United States antitrust lawsuit.

The News Corp name was retained for the company that operates newspapers including The Wall Street Journal and titles in Australia and Britain.

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