The deal, which is set to be announced on Thursday, will end more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at age 21 into one of the world's most important global news and film conglomerates.
The largest number of layoffs will be in operational areas, but there would be no job cuts at ESPN, the source told Reuters.
New York-based Altice, which is owned by a European conglomerate and is better known as Optimum, said Disney had asked it for "hundreds of millions of dollars" in new fees to be able to continue carrying ESPN and ABC, even as ratings suffer.
Facing questions regarding his inclusion on the council at the Disney's annual shareholders meeting, the chief executive said he had no plans to step down from the group, as some critics have urged him to do.
Investor favourite Iger's current contract ends in June 2018, and shareholders are eager that he is replaced by a steady pair of hands. In Iger's 12 years at the helm of Disney, the company's shares have more than tripled in value, compared to roughly a doubling of the S&P 500.
The micro-blogging service said it has acquired Yes, the maker of apps such as Frenzy and WYD-What you doing, which allows users to connect with their friends.
Twitter shares have lost as much as a third of their value since Oct. 5 on concerns the company has attracted less interest from potential acquirers than previously envisaged. It now has a market capitalization of USD 12 billion.
The timeline is hugely ambitious in the context of most mergers and acquisitions, given that Twitter began mulling a sale only last month. It is the clearest sign yet that Chief Executive Jack Dorsey is pushing to provide clarity to shareholders and employees over the company's future as quickly as possible.
Companies including Salesforce.com Inc, Walt Disney Co and Alphabet Inc's Google have shown interest in Twitter, which is working with investment banks to evaluate its options, according to people familiar with the matter.
Disney will also retain a four-year option to buy an additional one-third stake, Bloomberg said.
Instead, the company is facing a public relations crisis and the possibility of legal action after an alligator snatched and killed a toddler at the Walt Disney World resort in Orlando, Florida, legal and communications experts said.
Staggs will remain employed by Disney as a special adviser to Iger through the company's fiscal year. He will step down from his current role effective May 6. and will leave the company at the end of the fiscal year, Disney said Monday.
Vice Media said it would take over H2, a spinoff from the History channel that is owned by A&E Networks - a joint venture of Disney, Hearst Corp and NBC Universal Inc.
Studios like Disney, which has made blockbuster films like "Frozen" and Marvel's "Guardians of the Galaxy," have been attempting to steer movie fans towards digital purchases as sales of DVDs decline.
Apple, which is aiming to price the new service at about USD 30 to USD 40 a month, plans to announce the service in June and launch it in September, the newspaper said. Apple spokesman Tom Neumayr said the company does not comment on rumor and speculation. Fox and CBS declined to comment.
If the deal goes through, it would be one of the largest investments in a YouTube developer by a traditional media giant.
"It's clear to me that our video business is something that's growing a lot. It's something that we'd like to accelerate," says Marissa Mayer, chief executive officer, Yahoo.
As of Sunday, one-day entry to Disney's Magic Kingdom at the Walt Disney World resort in Orlando, Florida, costs $95 for a person age 10 or older, a 6.7 percent increase.
Internal emails show that executives at tech companies such as Apple and Google believed that an agreement to refrain from poaching each other's workers would bring real financial benefits, a US judge said on Thursday.
Walt Disney Co started an internal cost-cutting review several weeks ago that may include layoffs at its studio and other units, three people with knowledge of the effort told Reuters, in an early sign that big companies may not be finished tightening their belts.
Big media companies' stocks have their swagger back.
ABC has been sued for alleged racial discrimination for featuring only white people in the lead roles on its popular dating shows "The Bachelor" and "The Bachelorette."
DeNA Co Ltd and Walt Disney Co said on Friday they would jointly develop mobile social games, marking another step in the Japanese gaming platform ...
Walt Disney Co , which owns a controlling stake in UTV Software Communications Ltd , will acquire the latter's shares at or below 1,100 rupees, according to a public announcement in the Economic Times newspaper.
Walt Disney Co, the largest shareholder in UTV Software Communications Ltd, has proposed to buy most of the shares it does not already own in the company, which has a market value of USD 826 million, and delist them from all bourses.