Sony Among Many Corporations Looking to Acquire Fox Movie Assets

Nov 20, 2017, 01:54
Sony Among Many Corporations Looking to Acquire Fox Movie Assets

During the Fox earnings call last week, co-executive chairman Lachlan Murdoch declined to comment on reports, citing the company's "longstanding policy of not commenting on speculation" about corporate dealings. Those assets would include much of Fox's domestic broadcast operations, but would also include global assets such as its stake in European broadcaster Sky. 21st Century Fox was carved out as a separate entity from News Corp.in 2013 amid a scandal involving the United Kingdom newspaper division and concerns that the financial challenges of the publishing businesses were dragging down the value of Fox media and entertainment assets.

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. But if Comcast also aims to acquire Fox's US entertainment assets it could invite regulatory trouble, says Jayant.

Activists in Britain have staged protests against the Murdoch-controlled 21st Century Fox bid for full control of pan European satellite TV giant Sky

Pivotal Research analyst Brian Wieser remains uncertain as to whether the Murdoch family is seriously entertaining offers. Earlier reports stated that Walt Disney Company was in talks with the company, but that they'd failed to reach a deal, ending talks between the two.

"Previously, no-one would have guessed that such a meeting would have ever occurred". A new report states that Sony Entertainment is also interested in acquiring Fox's movie assets.

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Verizon shares were up 1.4 percent, while Comcast and Netflix shares were down about 1 percent. Adding Fox to that would give them a truly compelling library for their new streaming service.

"(I am) skeptical of a Verizon deal, creative businesses are very tough to manage for an outsider", Logsdon said.

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Fox shares have gained about 9 percent in value in the last six months.

It is reported the Rupert Murdoc and his sons are looking at keeping their sports and news assets but selling off other parts of Fox.

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