Disney is very close to a $60 billion deal to purchase a large of 21st Century Fox. CNBC reported that the announcement is expected Thursday.
Under the deal, Disney would take on Fox's film and television studio, its cable TV networks like FX and NatGeo, and its 30 percent stake in Hulu. The U.K.-based Sky TV may also be included.
Not part of the deal: the Fox broadcast network, Fox News Channel, and Fox Sports channels. These assets will form a new company, of which Fox shareholders will get a piece.
Rumors of a deal began a month ago, but talks broke down and Comcast also expressed interest in Fox's entertainment properties.
The deal would completely change the entertainment business landscape, combining two major film studios and several robust television producers. And Fox's library would add to Disney's own, as it tries to launch a proprietary streaming service to compete with Netflix and Amazon.