If a deal is made, Fox is expected to make its decision by the end of the year.
The Reuters sources asked not to be identified because the negotiations are confidential.
Media company Twenty-First Century Fox (FOXA.O), controlled by the Murdoch family, favors selling some assets to Walt Disney Co (DIS.N) as it is a better strategic fit and presents fewer regulatory hurdles, Bloomberg reported on Monday, citing people familiar with the matter.
The Twenty-First Century Fox Studios flag flies over the company building in Los Angeles, California U.S. November 6, 2017.
Fox shares were up 0.57 percent in late afternoon trading, while Disney was down 2.45 percent. Much like Disney, Comcast wants to "explore talks" to buy Fox's movie and TV studio, as well as some of its cable networks, and its stakes in satellite TV provider Sky, Star India, and Hulu.
FILE PHOTO: The logo of the Disney store on the Champs Elysee is seen in Paris, France, March 3, 2016.
Fox would keep its broadcast network, the Fox News cable channel and Fox Sports.
Fox is currently struggling to complete its £11.7 billion (US$15.4 billion) deal to acquire 100% of UK-based Sky, which has successful pay TV operations in major European territories.
Those assets would offer the opportunity for both Comcast and Disney to broaden their international distribution footprint.
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