The stock of Walt Disney Co (NYSE:DIS) closed at $104.74 losing 0.05% in yesterday’s trading session. This company is currently in talks with Twenty-First Century Fox (NASDAQ:FOX) and it seeks to purchase a major portion of the latter conglomerate’s media assets. There have been rumors flying about that the talks stalled but that isn’t confirmed yet.
Incase Disney proceeds to close the deal, it will stand out as the sole owner of 20th Century Fox movie studio. That implies that it will be the one controlling the movie rights to the Fantastic Four and X-Men.
Lachlan Murdoch and James are the two brothers who are currently running the 21st Century Fox. In a joint statement they have come out clearly to affirm that it was not true that they sought to sell parts of their conglomerate. They said that on Wednesday during a conference call with a number of analysts.
It was a few weeks ago that 21st Century Fox was involved in a series of talks with Walt Disney Company regarding the significant chunk of Fox’s entertainment business, including its television studio, movie, overseas television and the entertainment cable networks businesses. At the moment, nothing substantial is going on though a number of people involved in the discussions have expressed their optimism over the negotiations restarting anytime soon.
Wall Street seems to have made its own interpretation of the Disney talks and in its recent statement it disclosed that the Murdochs had resolved to place 21st Century Fox in play.It was on Tuesday that an analyst at BTIG Research, Richard Greenfield, stated that the discussions needed to be observed as a significant change in direction for the Murdoch family.
The co-executive chairman of 21st Century Fox, Lachlan Murdoch, opined, “We will not be responding at all to questions or comments about regarding recent press speculation. We understand that a lot of people are eager to know each and very move we make, but we prefer taking our time.” The company’s chief executive, James Murdoch, was in support of his brother’s views.