Starz Reportedly Meets With 21st Century Fox About Potential Acquisition
Fox possibly could take a stake in the cable channel instead of acquiring it
Starz CEO Chris Albrecht met with executives from Rupert Murdoch's 21st Century Fox on Tuesday to discuss a potential acquisition, according to a report from The Los Angeles Times.
It is possible that instead of buying Starz, Fox could take a share in it, sources told The Times. Starz has an estimated value of $3.2 billion, based on current share price. The meeting took place on the Fox lot in Los Angeles.
The reported meeting comes less than two months after Fox withdrew an $80 billion takeover bid for Time Warner, and could signal that Murdoch is still hungry to add more distribution channels to his portfolio.
Starz also owns Encore, and together the two channels have 56 million subscribers. Starz has more than doubled its market value following Liberty Media Corp. spinning off Starz and Encore in January 2013.
Starz and Fox did not immediately respond to requests for comment.