It now appears likely that Walt Disney Co. will soon conclude a deal to acquire important assets from the Fox media empire controlled by the Murdoch family, a deal likely to involve a valuation of more than $40 billion for those assets.
Comcast Bows Out:
Comcast Corp. said Monday, December 11, that it has abandoned its own competing bid for those assets. That leaves Disney alone at the auction.
The assets on the block include many that make a natural addition to the Disney portfolio, including a couple of popular cable channels (National Geographic and FX) and the famed 20st Century Fox movie studio.
The Thing to Know:
The patriarch of the Murdoch clan, Rupert, has spent decades accumulating assets. The idea that he and his heirs plainly want to unload such valuable jewels from their crown has to many observers a disorienting novelty. But the younger generation is taking the reins and has its own perspectives.