Sony becomes latest suitor in Fox saga

Sony has become the latest company to enquire about acquiring significant chunks of Rupert Murdoch’s 21st Century Fox.

Rupert Murdoch

Last week, telco Verizon and NBCUniversal owner Comcast were said to have joined Disney as potential buyers of Fox’s film studio and television assets.

Sony Pictures, the US TV arm of the Japanese media conglomerate, is now eyeing Fox’s entertainment operations.

Disney was reportedly interested in buying Fox’s movie studio, cablenets and its stake in European pay TV operator Sky, but the negotiations apparently failed to reach an agreement.

Fox’s assets are varied and include a 50% stake in production giant Endemol Shine Group, a cable business spanning National Geographic and the FX networks, and 30% of US-based streamer Hulu.

The company, run by Murdoch’s son James, is also in the middle of a protracted battle to secure the remaining 61% of Sky it needs for a complete takeover.

Like Disney, both Sony and Fox have declined to comment on their reported interest in Fox. The sudden spate of such reports stems from industry speculation that Fox does not have the strength to compete with digital players in the rapidly changing TV market.

At the company’s recent annual shareholders meeting, executive chairman Lachlan Murdoch rejected the claim, insisting that Fox has “the required scale.”