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. They added the family-led empire created by mogul Rupert Murdoch had been in discussions to sell Fox's movie and television studios and leave a media company tightly focused on news and sports. Disney is interested in solidifying its Hollywood and television positions and getting the Fox library of content to bolster its arsenal against Netflix and other rivals. Fox shares leapt 8.9 percent on the news to $26.62 while Disney rose 2.04 percent to finish at $100.65 on Wall Street. Murdoch, 86, began a gradual withdrawal from both companies in 2013, and now shares the title of chairman with his eldest son Lachlan at both firms.

Source: The Nation Bangkok November 06, 2017 22:30 UTC