James Murdoch is the younger son of 21 Century Fox chairman Rupert Murdoch.
The deal that is being discussed not only involves all of Fox's television and film assets, but also the company's 30% stake in Hulu, as well as all current projects that are in production like Deadpool 2, New Mutants, and more.
Fox itself will still have control of its own network, sports channel plus news and business divisions. But it seems likely that-in the event of a deal-Murdoch would get a senior executive role at Disney no matter what.
Comcast, the US's largest cable operator and owner of NBC Universal, the TV network and movie studio company, is also reported to be assessing a bid, as is Verizon, the largest U.S. telecoms group. It could be worth more than $60 billion and would reshape the media landscape.
Of course, this deal comes with its pros and cons. It's hard to know with details so sparse, but if the deal goes through (which remains a big "if"), Disney will own a regional sports empire to buttress its ESPN properties, almost 20 years after tabling plans for ESPN West. I'm sure more details of the deal will come out as soon as the deal is done.
Sadly, the Marvel film universe was never complete with the X-Men and Fantastic Four owned by a rival film studio. We'll keep you posted.