Shares of 21st Century Fox Inc. were up more than 5% during intraday trade on Monday after a report that the company has been in talks to sell most of the company to Walt Disney Co. . Disney shares were up a little more than 1%. CNBC, citing sources, said that Fox management believes a tighter group of assets focused around news and sports would better compete in the marketplace, suggesting that the talks have centered on Fox’s entertainment properties, such as its film arm 20th Century Fox. Shares of 21st Century Fox are down more than 6% in the year to date, and Disney shares are down more than 4%. By comparison the S&P 500 index is up nearly 16% and the Dow Jones Industrial Average is up more than 19%.
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