In what could be a complicated deal with particularly major repercussions for the European TV market, Disney look like announcing a deal for the purchase of the Fox “Spin-Co” on Thursday. Named as such, as only some of Fox’s assets are being spun off into another company for sale.
This from USA’s CNBC:
21st Century Fox and Disney are on a “glide path” for a Thursday deal announcement, sources familiar with the deal said.
Disney became the sole suitor after Comcast dropped its bid for the majority of Fox assets on Monday.
A week ago, CNBC reported that Disney and the Rupert Murdoch-controlled media company were closing in on a deal. The enterprise value of the Fox assets in the Disney deal is seen as above $60 billion, sources said a week ago, but that exact amount is still not firm.
Current Fox shareholders would get one share of the company that remains after the movie and television assets are sold, plus shares of Disney in a fixed exchange ratio.
Sources said this week that the Fox spinoff entity would be worth approximately $10 a share.
