According to Faber, Fox's regional sports networks are included in the proposal for the latest negotiations, meaning ESPN would take over the regional sports coverage for 44 MLB, NBA, and National Hockey League franchises that are now broadcast on Fox's regional networks. According to the LA Times, Disney's board would extend Iger's contract to help the company navigate the significant regulatory hurdles needed to finalize any Fox buyout deal, and to oversee integration of Fox properties within Disney.
The Reuters sources asked not to be identified because the negotiations are confidential.
Disney did not immediately respond to request for comment from TheWrap.
Fox is exploring a potential sale as it is has been considered undervalued relative to its peers, said Brian Wieser, an analyst at Pivotal Research.
Fox Chief Executive James Murdoch, speaking at the UBS Global Media and Communications Conference in NY on Tuesday, declined to comment on reports about a potential sale.
The agreement, which would acquire the approval of federal regulators, would include 20th Century Fox film studio, 20th Century Fox Television, FX Networks, and a majority stake in the streaming service Hulu.
Shares of Disney fell to session lows on the news before settling down 1.58 per cent at $105.53 apiece.
Fox Sports Ohio and SportsTime Ohio would likely be rebranded as ESPN networks, which Disney also owns.
It is rumored that this deal will be valued at above $60 billion. They also own the publishing giant News Corporation, parent of The Times, the Sun, The Wall Street Journal and HarperCollins.
- Pope calls for 'status quo' of Jerusalem to be respected
- Lawmaker Says GOP Has the Votes to Avert Government Shutdown
- Ultimate Software in top 10 on Glassdoor's 'Best Places to Work'
- Can Manchester United win the Premier League this season?
- US Assured Pakistan Of 'No Indian Military Role In Afghanistan'
- 29% of Americans approve of the GOP tax plan
- Eminem's 'Revival' to feature Beyonce, Ed Sheeran, Alicia Keys and Pink
- Did Trump's Teeth Almost Fall Out During His Historic Israel Speech?
- Evaluate Analyst's Opinions:: Wal-Mart Stores, Inc. (WMT)
- Super Earth : A planet like ours, that may host alien life