21st Century Fox Inc. (FOXA), the global film and television giant controlled by the Murdoch family, is reportedly closing in on a deal to sell some of its assets to Walt Disney Co. (DIS), reports CNBC. The deal is expected to amount to over $60 billion and could be announced as early as next week, with Disney as just one potential buyer of Fox’s film studio and television production assets. Upon the deal’s close, Fox would be left with its news and business news divisions, broadcast network and Fox Sports. (See also: Buy Disney, Ignore ESPN Woes: Morgan Stanley.)

Fox is reportedly also speaking with Comcast Corp. (CMCSA)—which is CNBC's parent company—but as reported by Bloomberg, the Murdoch family sees a better strategic fit and less regulatory hurdles with Disney.

Targeting Netflix

The deal would include the sale of Fox’s National Geographic, Star India, regional sports networks, movie studios and stakes in Sky Plc, a U.K. pay-TV provider and Hulu, an on-demand video streaming rival to Netflix Inc. (NFLX), in which Disney already has a stake.

A deal could provide Fox Chief Executive Officer James Murdoch with a chance to possibly join Disney, the world’s largest entertainment company. The Fox CEO has dealt with a series of scandals at the helm, including sexual harassment allegations that have served as roadblocks to Fox’s $15.8 billion bid to buy the rest of Sky. Whether the Murdoch family pursues a transaction or not will depend on the price and structure, writes Bloomberg, citing people familiar with the matter.

As Disney evolves to compete in a disrupted industry, transitioning to streaming and direct-to-consumer models, the new assets would provide the firm with a larger global reach. On speculation that a deal is close, shares of New York City-based Fox have gained 1.3% at $33.53 while Burbank, Calif.-based Disney has slumped 2.3% at $107.64 on Tuesday afternoon. (See also: What a Disney, Fox Merger Could Mean for Netflix.)

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