What started as a rumor a few weeks ago is now very close to becoming a reality. A few weeks ago the news of Disney being in “serious negotiations” to buy a majority of the assets of 21st Century Fox, sent shock waves across the financial world as well as the Hollywood. However, it was reported soon after that the negotiations failed and it seemed like an acquisition of this magnitude won’t take place anytime soon. Well, according to the latest report from CNBC, the estimated $60 Billion deal between Disney and Fox may be announced as soon as next week. The report claims that:
“Disney and 21 Century Fox are closing in on a deal, and it could come as soon as next week, according to sources familiar with the matter.”
Just a few weeks ago the news broke that 21st Century Fox is planning to sell off almost 80% of its assets including the revered movie studio, 20th Century Fox and almost all of their TV assets.
Naturally, the Mouse House, being the biggest Hollywood entity wanted to strike a deal. Especially since Disney is planning to launch its own streaming service next year, they simply couldn’t pass the chance of acquiring Fox’s huge library of interesting content. Other companies like Sony and Comcast were also reportedly interested in buying most of the 21 Century Fox but the new reports claim that the Fox and Disney talks “have progressed more significantly.” If this deal indeed takes place then that would mean Disney will end up owning Nat Geo, Star, Fox’s 30% stake in streaming service Hulu, 39% stake in U.K.-based TV provider Sky and to the joy of Marvel fans, the X-Men and Fantastic Four franchises, among other assets.
While a majority of Marvel fans are happy because then the possibility of an X-Men/Avengers cameo could become a reality, there is an unrest in the Hollywood. Fox owns several other franchises like Planet of The Apes, Alien including the R-rated Deadpool and if that massive deal takes place, the fates of these franchises may not be ideal, to say the least.
It is quite possible that Disney allows the 20th Century Fox to keep making movies under the Disney Umbrella just like Lucasfilm but that remains to be seen. While fans are getting excited to see Wolverine fighting with (or against perhaps?) Captain America, X-Men finally joining the Avengers, according to CNBC, this deal between Fox and Disney could be worth well over $60 Billion and the entities involved may make an official announcement as soon as next week. Stay tuned for more and latest Hollywood news.