Disney and Fox nearing $60 billion deal; Announcement possibly next week

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"Disney and Twenty-First Century Fox are closing in on a deal, and it could come as soon as next week, according to sources familiar with the matter", reports CNBC.

"It would be wrong to comment on market speculation", said Murdoch, citing company policy, so there's nothing to add to that". "So no there's nothing to add to that, other than the nothing that we've said so far".

21st Century Fox is reportedly aiming to focus on its news and sports division, and sell off outside assets including its movie and tv studios, and its stake in various networks such as Fox, FX, Sky, and Star TV. The Mouse House would not get Fox's broadcast network, Fox Sports or Fox News.

In addition to Disney and Comcast, both Sony and Verizon Communications have been previously named as potential suitors.

According to Faber, Disney and Fox are still negotiating a price for the deal and looking for a way to mitigate tax leakages. The Burbank entertainment conglomerate is interested in acquiring Fox's film and television studio, a number of cable television networks, its 39% stake in United Kingdom satellite television provider Sky and India's Star TV, as well as its 30% share of the Hulu streaming service. Fox would easily be Disney's biggest acquisition under Iger, and from a business standpoint, could help jumpstart Disney's stock, which has stagnated for the last three years over fears of ESPN's decline and the lack of a clear over-the-top distribution strategy.