21st Century Fox's worldwide exposure through its operations in markets such as the UK, Germany and Italy is also appealing to Disney, which would likely want to add key assets such as UK satcaster Sky and Star in Asia as well as entertainment networks like FX and National Geographic. But Disney would also "add entertainment networks" such as FX and NatGeo (CNBC.com, 11/6). For Fox, the "willingness to engage in sale talks with Disney stems from a growing belief among its senior management that scale in media is of immediate importance and there is not a path to gain that scale in entertainment through acquisition".
21st Century Fox has been in talks with Disney over a potentially huge sale, according to insiders, as Fox shifts its focus to more narrow content categories.
The deal does not include, however, the Fox News network or its local broadcasting affiliates. For Disney, taking control of another movie studio and significant television production assets would act as an additional extension of the Mickey Mouse-style Voltron that I happen to know the company is building (not really, but really).
Michael Emenalo quits Chelsea in major blow to Roman Abramovich
But the Telegraph reports that Antonio Conte's unhappiness with Chelsea's summer transfer activity has led to tension at the club. The former Nigerian footballer has done well to recruit some big names since joining in 2007, helping Chelsea to eight trophies.
Sources close to the deal believe Disney's clout in the changing TV consumption landscape would allow it to compete with the new digital players, whereas many think Fox does not have the scale to do so. Walt Disney would also benefit from Fox's global exposure.
Odey's opposition to the 11.7 billion-pound ($15.4 billion) takeover comes after CNBC reported that Murdoch's Fox had recently held talks about selling some assets to Disney.
According to CNBC, the talks have taken place over the last few weeks but there is no guarantee a deal will be finalized and the two sides are not in talks at the moment.
New Zealand's New Labor Government To Ban Foreigners From Buying Homes
Australia withdrew from the Manus Island centre on Tuesday, following a PNG court ruling that the centre was unconstitutional. Earlier today, a government backbencher broke ranks and said Australia should consider accepting NZ help.
The two sides are not now talking, but had held talks in the last few weeks, CNBC reported, citing unidentified people familiar with the matter. Also the fact that Disney would be "buying film and TV studios, instead of TV and cable networks", shows how "much the media landscape has changed" (RECODE.net, 11/6). (Disney acquired ABC in 1996.) It would also exclude Fox's sports channels to avoid regulatory concerns that combining them with ESPN would be anticompetitive. The proposed purchase would have made Disney a more "formidable media conglomerate at a time when AT&T is trying to swallow" Time Warner (L.A. TIMES, 11/7). Fox declined to comment. The new service would be the exclusive home of Disney and Pixar films, and acquiring Fox would give it control over more content, while keeping it away from competing services, most notably Netflix.
21st Century Fox stock closed at $27.45 Monday.
Saudi Prince Dies in Helicopter Crash Near Yemen Border
The news channel Al-Ekhbariya announced the death of Prince Mansour bin Moqren, the deputy governor of Asir province. A Saudi prince was killed when a helicopter crashed near the southern-border they share with Yemen on Sunday.