Walt Disney Co will make a deal with Rupert Murdoch’s Twenty-First Century Fox Inc to buy film, television and international businesses, Reuters reported.
The deal will end more than half a century of expansion of 86-year-old Murdoch, who turned an Australian newspaper that he inherited from his father at the age of 21 into one of the world's largest news and film conglomerates.
According to the source, the deal will be valued at around $29 per share, including the Twentieth Century Fox movie and TV studio, cable networks and international operations. Fox shares finished trading on Wednesday at $ 32.75, while the market capitalization was about $ 60 billion.
After the transaction, Murdoch intends to focus on the news business. Murdoch’s intention to sell assets was a surprise for many who expected him to hand over the businesses to his sons, James and Lachlan.