Disney, 21st Century Fox have been in takeover talks

Image joe raedle  Getty Images

Image joe raedle Getty Images

Rupert Murdoch's 21st Century Fox has been in talks with Walt Disney Co.to sell part of its entertainment empire, CNBC's David Faber reports, citing people familiar with the conversations.

Reports in the Wall Street Journal and CNBC television said the discussions over the past few weeks had so far made little progress toward a deal. It would be barred from buying the Fox broadcasting network and was not in talks to buy local affiliates, Fox News or Fox Business Channel.

Representatives of Disney and Fox had no comment. Disney could take over the FX Networks, National Geographic television cable groups, Fox's worldwide channels and, perhaps most significantly, 20th Century Fox movie and TV production operations.

If The Walt Disney Company doesn't own the world yet, perhaps they will soon enough.

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"In addition to the movie studio, TV production and worldwide assets such as Star and BSkyB, Disney would also add entertainment networks such as FX and Nat Geo".

Ever since the Marvel Cinematic Universe was established after Disney bought Marvel Comics, fans have been hoping that the movie rights from properties like X-Men and Fantastic Four would eventually revert back to Marvel Studios.

We'll be sure to keep you posted on this deal. That deal is now undergoing review by United Kingdom regulators.

"I see lots of synergies for Disney". And more resources could perhaps be diverted to sports in a leaner company, allowing Fox to possibly pick up bigger rights packages.

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There's also the question of what it would mean for Fox to be focused even more on news and sports. He assumes Fox shareholders would get equity in the larger Disney.

Fox's shares rose 5.8 per cent to $26.40 U.S. in afternoon trading, after being halted in the morning when the report came out.

Shares of both Disney and Fox are down year-to-date, as the acceleration of cord-cutting and a weak box office have provided some media headwinds.

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