Sony Among Many Corporations Looking to Acquire Fox Movie Assets

20 November, 2017, 01:56 | Author: Warren Cooper
  • Comcast wants to buy 'most of' Fox, report says

The source, who requested not to be identified, said that Comcast, Verizon, and Sony are among the suitors in "preliminary" talks for the assets which include Fox's stake in the British pay TV group Sky and its movie and television studio properties.

A week after reports of interest from Walt Disney Co in buying out much of Rupert Murdoch's USA film and television empire, the sources hinted at the prospect of a battle between other media suitors for the assets.

Sony is believed to be looking at a select group of assets rather than the entire company.

Selling the entertainment business would be a good deal for Fox, said MoffettNathanson analyst Michael Nathanson.

Acquiring 20th Century Fox's assets - including franchises such as X-Men, Fantastic Four, Avatar, Planet of the Apes, Alien, Predator and Die Hard - would certainly be a smart move for Sony, which has struggled with its own franchises, and recently lost the rights to James Bond.

Foot Locker, Inc. (NASDAQ:FL) Expected To Report Earnings On Friday
As of October 28, the company operated 3,349 stores in 23 countries in North America, Europe, Australia, and New Zealand. Results exceeded Wall Street's guidance calling for adjusted earnings of 80 cents per share on sales of $1.84 billion.

Traditional media companies have been struggling with subscriber declines as streaming service Netflix has gained traction with younger audiences that shun traditional cable and satellite offerings.

According to THR, Sony is now reaching out to Fox to see what properties they were planning on selling to Disney, but since these discussions are still in early stages, it's possible that their plans could change.

"Previously, no-one would have guessed that such a meeting would have ever occurred".

Reports late Thursday said Comcast is in talks to buy some of the assets of Rupert Murdoch's Fox. The NBCUniversal parent is also eyeing Fox's movie studio, cable networks and its regional sports network.

Murdoch and Fox have been seeking to gain control of Sky, already holding a 39 percent stake, amid a lengthy investigation by United Kingdom regulators. Fox would be left with its assets including its cable news outlets and broadcast channel, including local stations.

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