Walt Disney Co (DIS.N) is in the lead to acquire much of Twenty-First Century Fox Inc's (FOXA.O) media empire, though rival suitor Comcast Corp (CMCSA.O) remains in contention, people familiar with the matter said on Tuesday.
Since then, the deal has reportedly progressed substantially and Fox is looking to sell most of their company to Disney for a mountain of money weighing in at $60 billion or more. Reuters also notes that "Fox would keep its news and business news divisions, its broadcast stations and Fox Sports, the sources said".
Such an agreement, which would acquire the approval of federal regulators, would include 20th Century Fox film studio, 20th Century Fox Television, FX Networks, and a majority stake in the streaming service Hulu.
Earlier this month it was revealed that The Walt Disney Company had held talks with 21st Century Fox about acquiring a number of its assets, including its movie studio division 20th Century Fox, TV channels FX and National Geographic, Fox's TV production assets, and its stake in global broadcasters such as Sky and Star. Combined, Disney and Fox would control almost 33% of this year's box office revenues, and that's before Disney has even released "Star Wars: The Last Jedi", a film that is tracking toward a $200 million opening weekend in the USA when it's released later this month.
For Disney, the deal would give it access to Fox's content and greatly expand its current market share of the USA box office.