For Disney CEO Bob Iger, Fox deal is about future of TV

When news broke last month that Walt Disney Co. was in talks to buy a large part of 21st Century Fox Inc., the first question many investors had was, why are the Murdochs selling? Then came the second: Why is Disney buying?

The $50 billion deal, which could be announced this week, would mark a significant turning point in the empire-building career of Fox’s founder and executive chairman, 86-year-old Rupert Murdoch. It would also be a defining moment for Disney and its Chief Executive Officer Robert Iger.

Iger has built a reputation over the past 12 years for making bold bets, including the $7.4 billion he paid for Pixar animation just months after he became CEO.