Fox, Disney on 'glide path' for Thursday deal announcement: Sources

  • 21st Century Fox and Disney are on track for a Thursday deal announcement, sources familiar with the deal said.
  • Comcast dropped out of the bidding for the majority of Fox assets on Monday.
  • The Fox 'Spin Co.' remaining would be worth approximately $10 a share, sources said.

21st Century Fox and Disney are on a "glide path" for a Thursday deal announcement, sources familiar with the deal said.

Disney became the sole suitor after Comcast dropped its bid for the majority of Fox assets on Monday.

A week ago, CNBC reported that Disney and the Rupert Murdoch-controlled media company were closing in on a deal. The enterprise value of the Fox assets in the Disney deal is seen as above $60 billion, sources said a week ago, but that exact amount is still not firm.

Current Fox shareholders would get one share of the company that remains after the movie and television assets are sold, plus shares of Disney in a fixed exchange ratio.

Sources said this week that the Fox spinoff entity would be worth approximately $10 a share.

View Related Chart

Fox shares added 1.4 percent in premarket trading Tuesday to $33.85. Disney shares were also higher by nearly 1 percent. Fox traded around $25 a share in early November before news of a possible asset sale arose.

Click to show more