View Full Version : Disney to Buy Fox?

05-17-2001, 03:23 PM
Disney is well positioned to participate in media industry consolidation, which the company expects to continue, Chief Financial Officer Thomas Staggs said. The world's second-largest media company may be interested in buying cable-television, radio and other programming assets, Staggs said yesterday while speaking at a Bank of America Securities conference in New York. Staggs didn't put a specific price limit on the size of potential acquisitions, though he said $3 billion to $5 billion is a possible range.

Disney spokeswoman Chris Castro declined to comment on recent speculation that Burbank, California-based Disney might purchase Fox Family Worldwide Inc., the children's TV programming business jointly owned by News Corp. and closely held Saban Entertainment Inc.

Disney shares today rose 82 cents to $32.88 in late trading. The stock has risen 14 percent so far this year.
Source: AOL News