A potential media mega-deal involving Walt Disney buying some of the key 21st Century Fox assets is the talk of Wall Street right now.
CNBC reported Monday 21st Century Fox has been holding talks to sell most of the company to Disney, leaving behind a media company tightly focused on news and sports, according to people familiar with the situation.
The two sides are not currently talking at this moment, but given the on again, off again nature of the talks, they could be revisited.
“These studios are worth so much more when they consolidate,” Needham analyst Laura Martin said on CNBC’s “Power Lunch” Monday.
When asked how much Twenty-First Century Fox’s mentioned assets will cost she replied, “$20 billion … Between 20 and 30 [billion] depending on how tough Fox wants to be with the negotiation.”
If completed in that range, the deal would be among the 10 largest media deals on record, according to Dealogic data.
Shares of Twenty-First Century Fox rose 7.5 percent Monday afternoon following the CNBC report, while Walt Disney shares traded up 1.9 percent.
