Report: 21st Century Fox in talks to sell most assets to Disney

Rupert Murdoch, founder of 21st Century Fox, at the WSJ. Magazine 2017 Innovator Awards. Photo: Evan Agostini / Invision via AP

21st Century Fox has reportedly been in talks to sell most of the company to Walt Disney, per CNBC. The two companies, which reportedly aren't talking at the moment, have been discussing a potential deal on and off again for the last few weeks, signaling that although a sale isn't imminent, the talks could be revisited.

Why it matters: According to CNBC, Fox has been reevaluating its size and scale in the current media landscape, which has changed dramatically in the last few years with tech giants like Facebook, Google, and Netflix dominating a massive portion of digital video content and its distribution. Fox reportedly recognizes that competing in that space requires a scale that that Disney has, but Fox doesn't.