21st Century Fox reportedly to sell their production units to Disney.
21st Century Fox shares jumped by as much as 8.5% on Monday afternoon after a report that the company had recently been in talks to sell most of its assets to Disney.
Meanwhile, Disney acquires the major broadcasting networks of 21st Century Fox such as 20th Century Fox Studios, Fox Television, FX and National Geographic, giving Disney a larger group of networks and channels . It was also reported that Disney plans to go head-to-head with Netflix by launching a streaming site next year.
This is a win-win situation for 21st Fox Century and Walt Disney. The market values of both companies rose up. While Disney has acquired more entertainment brands, 21st Fox Century is now able to refocus their business in news and sports.
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