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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.

More details:

  • CNBC reported that there is "a growing belief" among Fox's senior management that there is no path forward to grow its entertainment business through acquisition. Instead, Fox feels that a "more tightly focused group of properties around news and sports" would be most effective in the current media environment.
  • Meanwhile for Disney, acquiring another major movie studio, with exposure to international markets, and its TV production assets could be advantageous as Disney gears up to launch its own streaming services.

What Disney won't buy:

  • The Fox broadcast network, as it's not allowed to own two separate broadcast networks.
  • Fox's sports programming assets. This would be to avoid concerns that, in combination with ESPN, the assets would be anti-competitive from an antitrust point of view.
  • Fox's local broadcasted affiliates, reports CNBC, citing people familiar with the negotiations.

Go deeper

Nathan Bomey, author of Closer
2 hours ago - Economy & Business

Tesla delays Cybertruck until 2023

Tesla debuts the Cybertruck in Hawthorne, Calif., on Nov. 21, 2019. Photo: Frederic J. Brown/AFP via Getty Images

Tesla is at risk of falling behind on one of the most critical products in the American auto industry: pickups.

Why it matters: Pickups are the most profitable segment in the business and account for the first, second and third best-selling vehicles in the country. Without a serious pickup strategy, Tesla could miss out on a huge source of future income.

Defense taking steps to mitigate civilian harm after botched airstrikes

Secretary of Defense Lloyd Austin speaks during a news conference at the Pentagon in Arlington, Virginia on Sept. 1, 2021. Photo: Andrew Harrer/Bloomberg via Getty Images

Defense Secretary Lloyd Austin issued a directive Thursday to improve the U.S. military's approach to civilian harm mitigation and response, calling it a "strategic and a moral imperative."

Why it matters: The Pentagon has faced criticism for years for amassing civilian casualties in its missions, especially in the Middle East. New York Times investigations have found systemic failures in efforts to prevent civilian deaths, as well as a cover-up of a 2019 airstrike that killed dozens of women and children in Syria.

4 hours ago - World

Mapped: The world's most and least corrupt countries

Expand chart
Data: Transparency International; Map: Jared Whalen/Axios

The most corrupt governments in the world are in South Sudan, Syria and Somalia, according to Transparency International's annual index, while the "cleanest" are in Denmark, Finland and New Zealand.

  • Breaking it down: The U.S. is 27th, China 66th, India 85th, Brazil 96th and Russia 136th. Scroll over the map to see each country's ranking.