CNBC reports that discussions have been on-ad-off for the past few weeks between the two companies, but say multiple sources close to the situation have revealed the talks could pick back up at any moment.
By selling its entertainment assets to Disney, Fox would free itself from having to compete with larger-scale media conglomerates like Disney and Comcast.
Disney was interested in buying 21st Century Fox's movie studio, TV production assets, entertainment channels such as FX and National Geographic, and some global assets such as BSkyB. If and when Disney is back in possession of the rights that 21st Century Fox now holds, it would mean that Marvel Studios could finally bring a number of classic Marvel properties such as the X-Men and the Fantastic Four into its shared cinematic universe.
Fox's shares were briefly suspended and then rose more than 7% in afternoon trading in response to the news, which would combine some of the most famous media brands in the world. Walt Disney can't own two broadcast networks, so it wouldn't buy the Fox network.
In addition to the movie studio, TV production and global assets such as Star and BSkyB, Disney would take the entertainment network FX and National Geographic, the report added. Disney would also not purchase Fox's local broadcasting affiliates, according to people familiar with the negotiations. Officials at Disney and Fox declined to comment.
There's also the question of what it would mean for Fox to be focused even more on news and sports.
With regard to "Deadpool", one fan noted, "The question is: If Disney buys 21st Century Fox, what happens to the current (and successful) trend of R-rated comic book movies?" But 21st Century Fox wouldn't sell all of its company.
It'd definitely be interesting. James Cameron is now at the helm of filming four back-to-back Avatar sequels to the most successful movie of all-time, and already worked closely with Disney on the new attraction Pandora - The World of Avatar at Orlando's Disney World.