Disney, Fox closing in on deal

Enterprise value for Fox assets seen more than $60 billion: Sources from CNBC.

RBC analyst Steven Cahall breaks down the potential details of the deal and thinks 21st Century Fox will spin off the assets Disney isn't interested in.

Sources confirmed this week the companies were close to finalizing terms of the deal.

Walt Disney Co. and 21st Century Fox logos.

"At the beginning of this year, Fox was the only buy-rated stock I had because it was so depressed relative to everything else in the sector", Wieser said.

Following Tuesday report that the two sides were closing in on a deal, the Financial Times suggested James Murdoch was "suggested" as a possible replacement for Iger in 2019.

"It's always good to look at what's going to create the most value for our shareholders", he told attendees.

Disney, Fox closing in on deal

Disney is reportedly negotiating to purchase most of the assets now held by 21st Century Fox, and as one might expect the money they're talking about spending is more than chump change.

Shares of Disney closed down 1.6 percent Wednesday.

21st Century Fox could grind higher as the details of the deal are worked out and announced, Cahall said.

According to a report from Deadline, the assets could be valued at as much as $67 billion.

Those assets would offer the opportunity for both Comcast and Disney to broaden their global distribution footprint. They could continue to run the business as it's own entity, but would also be able to bring the assets under the News Corp umbrella or seek a separate buyer as the media industry leans toward forming big content conglomerates.

While the long-rumored deal has moviegoers salivating about the thought of an Avengers/X-Men crossover movie, the transaction would have local ramifications as well.

Vanessa Coleman