Disney deal seen valuing Fox assets at $60 billion: Sources

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Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.

Disney’s deal with 21st Century Fox is seen giving the movie and television assets an enterprise value of $60 billion, sources told CNBC.

Fox shareholders would hold 25 percent of the new Disney, the sources told CNBC. A deal could be announced as early as Thursday, as CNBC reported earlier this week.

But there is not expected to be an announcement regarding the management of the new company, the sources said.

Disney became the sole suitor after Comcast, the parent of CNBC, dropped its bid on Monday. The two sides have talked on and off this fall. The deal is a recognition that scale is necessary to compete against Facebook, Alphabet’s Google, Amazon and Netflix, which are changing consumer habits.

For Disney, it is an opportunity to add movie studio and television production assets as it readies its own direct-to-consumer offering. The Fox assets also bring significant international exposure, including its 39 percent ownership of U.K.-based Sky.

The Fox that remains after the deal is complete, including news and sports businesses, would have earnings before interest, taxes, depreciation and amortization of $2.8 billion. It would be worth $10 a share, sources told CNBC earlier this week.