Speed Reads

closed door talks

Comcast and Fox are having closed-door talks about a potential acquisition

Comcast Corp. is looking to buy 21st Century Fox's assets, The Wall Street Journal reports. Coverage of the potential deal gave 21st Century Fox shares a 7 percent boost in after-hours trading and gave Comcast a smaller 1 percent bump.

Comcast apparently wants to purchase some of Fox's American networks as well as international assets, including Star India and a minority stake in the European broadcaster Sky. International assets account for about 70 percent of the financial stakes in the deal. The telecommunications conglomerate may also be looking to buy Fox's movie studio, cable network, and regional sports network, CNBC reports.

Leaked deal talks come as a surprise to many analysts. Until November, Fox, owned by the Murdoch family, seemed eager to grow, angling to acquire control of Sky itself. But on Nov. 6, CNBC broke the news that Disney and Fox had held preliminary talks about Disney buying Fox's movie studio and Hulu, though those discussions have apparently simmered down. Verizon and Sony might also be throwing their hats into the ring alongside Comcast.