Nov 17, 2017

Fox shares jump on sale speculation

Shares in 21st Century Fox have jumped amid reports that several major companies have come forward as suitors for parts of its business. 21st Century Fox has not directly addressed the speculation. The Wall Street Journal - in which the Murdoch family also has a large stake - reported that Fox is considering shedding its movie studio, cable networks and international businesses, including Europe-based Sky, and Star TV in Asia. Last year, Fox announced a deal to take full control of Sky, in which it already has a 39% stake. Media analyst Claire Enders, founder of Enders Analysis, said the speculation suggests that Fox is exploring other possibilities should that deal fall through.

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