The Murdoch family will hold less than a 5% stake in Walt Disney Co. after the studio giant's deal to buy certain assets of 21st Century Fox Inc., which will be announced before the market opens on Wall Street on Dec. 14, the Financial Times reported Dec. 13, citing people briefed on the matter.
The Murdoch family will not be represented on the Disney board following the deal, while it is not clear whether Fox CEO James Murdoch will join Disney, according to the report.
Meanwhile, Reuters reported that the deal will value Fox at more than $40 a share, or $75 billion.
Disney is reportedly acquiring Twentieth Century Fox Film Co. Ltd., Fox's stake in Sky plc, the Star network in India and cable channels FX and National Geographic Channel (US), among others. Meanwhile, the Murdochs will retain control of News Corp., as well as Fox's remaining assets, including FOX News Channel (US).
Comcast Corp. recently dropped its bid to acquire the Fox assets.
