21st Century Fox Inc. will retain its real estate portfolio, including the storied 20th Century film and television studio lot in Los Angeles, when it sells a large chunk of assets to Walt Disney Co., according to people familiar with the matter.
Fox will spin off the assets it plans to keep, with Disney acquiring the studio, cable channels such as FX and National Geographic, and international assets in a deal valued at about $60 billion including debt, the people said, asking not to be identified discussing private information. The arrangement would allow the new spinoff, controlled by the Murdoch family, to rent studio space to Disney, while Fox employees in the businesses it retains -- Fox News, the Fox broadcast network and the FS1 sports channel -- would be able to remain on the property.