Disney Held Talks to Acquire Fox

Walt Disney recently held talks to acquire 21st Century Fox’s movie and television studio, cable-television networks, and international distribution operations.

The talks are no longer active, according to sources cited by the Wall Street Journal. The Journal‘s sources say the talks were “very preliminary” and broke down over price and other important aspects of the deal.

The deal, however, is not necessarily dead. The deal could be revived in the near future, according to a person familiar with the matter.

The Fox assets Disney sought to acquire did not include its broadcast television network, local stations, or sports stations. People familiar with the matter say that Disney did not want to acquire Fox’s sports programming because it already owns ESPN, and combining the two could raise antitrust issues. Fox News and Fox’s business network were also not included in the acquisition under consideration.

Included in the deal were Fox’s entertainment networks, such as FX and National Geographic, according to CNBC. The Wall Street Journal reported that Fox’s stake in U.K. pay-television giant Sky was also included.

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