Why Walt Disney Co Stock Popped Monday

Shares of media and entertainment giant Walt Disney (NYSE: DIS) jumped as much as 7.1% on Monday, following a report from The Wall Street Journal this weekend that the company has "re-engaged in discussions" with Twenty-First Century Fox (NASDAQ: FOX) (NASDAQ: FOXA) about purchasing some of its assets. The stock is up 5.1% at the time of this writing.

Citing "people familiar with the situation," the Journal says Comcast (NASDAQ: CMCSA) is also involved in a possible deal being considered. Fox is reportedly considering selling its movie and TV studios, some of its international assets, and some U.S. cable networks. But "Fox News, the Fox broadcast network and sports network FS1 aren't expected to be sold in any transaction," WSJ says.

Fox's stake in Hulu is also being discussed as a potential asset for sale. Fox, Disney, and Comcast each currently have 30% stakes in the streaming TV service.

Source: Fool.com