CNBC reported on Monday, citing sources familiar with the matter, that 21st Century Fox has been in talks to sell most of the company to Walt Disney. While there's no guarantee that a deal will be finalized, the discussions point to a changing landscape in the media world.
Discovery Communications acquired Scripps Network Interactive in July for almost $12 billion. Comcast bought Dreamworks last year, and Verizon now owns AOL and Yahoo. AT&T and Time Warner agreed to join forces, though the deal could be blocked by the Department of Justice over anti-trust concerns.
With 109.3 million subscribers globally, Netflix has become a massive force in the entertainment industry and eaten into the legacy television and cable businesses. But as giant media companies merge their portfolios and roll out their own on-demand offerings, it's going to be harder for Netflix to compete, said Greg Portell, a partner at management consulting firm A.T. Kearney.