Walt Disney Co. held talks to buy most of 21st Century Fox, which would have given the entertainment giant control of another studio and TV production assets, CNBC said, citing people familiar with the situation.
The two sides aren't talking now and the negotiations, which took place over the last few weeks, may not lead to a deal, CNBC said.
Disney wouldn't acquire all of Fox, but instead add cable networks such as FX and National Geographic, as well as assets outside the U.S. including the Star cable network in India and a stake in the Sky satellite service in Europe, CNBC said. Disney isn't interested in Fox's broadcast network, Fox News, local broadcast affiliates or sports programming.
Fox shares surged as much as 6.3 percent, and Disney rose as much as 2.4 percent, in mid-day trading. Both companies had no immediate comment when contacted by Bloomberg News.