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News > Deals
Fox Family terms set?
June 14, 2001: 6:55 p.m. ET

News Corp., Saban reportedly to sell Fox Family Worldwide, but retain Fox Kids
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NEW YORK (CNNfn) - Rupert Murdoch's News Corp. and Saban Entertainment have agreed to sale terms for their co-owned Fox Family Worldwide which will enable the companies to retain Fox Kids Network, a published report said Thursday.

According to the Financial Times Web site, News Corp. (NWS: Research, Estimates) and Saban will form a new partnership, enabling them to keep the Fox Kids Network, which provides 14 hours of children's programming per week to the Fox Network.

News Corp. declined to comment.

CNNfn.com learned in May the companies were interested in pursuing a sale of Fox Family Worldwide, with a prospective price tag of $4 billion to $6 billion.

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Fox Family Holdings include the Fox Family Channel cable network, which is distributed in over 80 million homes, and airs shows such as "Angela Anaconda" and "Donkey Kong Country."

Saban Entertainment is best known for its "Power Rangers" series.

Viacom Inc. has been approached and will give the assets a look, a source said. Viacom (VIA: Research, Estimates) already owns MTV, Nickelodeon, The National Network (TNN), and recently acquired BET.

Other potential bidders could include Walt Disney Co. (DIS: Research, Estimates) and CNNfn-parent AOL Time Warner (AOL: Research, Estimates).

Shares of News Corp. rose 5 cents to $37.36 on the New York Stock Exchange Thursday. graphic

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