Walt Disney Co. and 21st Century Fox nearing a $ 60 million merger deal

FoxIn all probability, Walt Disney Co. and 21st Century Fox could be nearing a $60 billion merger deal, sources say.

If you remember, we had earlier reported that Disney had approached Fox about a deal to buy its entertainment assets which would include its movie studio and so also its entertainment channels like FX and National Geographic.

If it comes through, the deal comes at a time of rapid consolidation in the media industry as traditional media companies try to scale to compete with tech-based media companies like Netflix.

A merger would likely face regulatory hurdles, given that the Justice Department’s anti-trust division sued AT&T two weeks ago to block a merger with Time Warner.