Comcast wants to buy 'most of' Fox, report says

Comcast wants to buy 'most of' Fox, report says

Among other duties, the pair are working to expand partnerships with independent production companies, with Twentieth Century Fox recently announcing a partnership with Locksmith Animation in the United Kingdom.

"Either Disney or Comcast would be a good fit, but its always about price and neither has to be a strategic buyer, only opportunistic", said JBL Advisors analyst Jeffrey Logsdon. This could also include worldwide assets such as Star and Sky that Fox now owns.

Murdoch and his sons Lachlan and James, who hold key roles in his media empire, have remained mum on their plans for 21st Century Fox, which includes the Fox Hollywood studios, and broadcast and cable operations Sky, which has a presence in Austria, Britain, Germany, Ireland and Italy.

Comcast wants to buy 'most of' Fox, report says
Comcast wants to buy 'most of' Fox, report says

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.

Neither Disney nor Comcast can buy the Fox broadcast TV network because they already own ABC and NBC, respectively. Verizon has also expressed interest, according to the report. Hulu is also partially owned by Comcast and Time Warner Inc. At this time it is unsure if they are looking at selling off cable networks like FX but it is reported that FOX would keep its Fox Broadcasting Co and ownership of their FOX local affiliates.

The conversations are at a very early stage, and there's no guarantee that a deal would be finalized, this person said Thursday. As of right now, Fox owns a 39% stake in the company, however, it's previously announced its intention to buy the rest of Sky, with the hope that the deal would close by mid-2018. "Acquisition of a movie studio and cable channels would be a departure for Verizon, which has focused its media deals around advertising technology and internet properties", the outlet adds.

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