This would be huge - Fox would sell everything except Fox, Fox News, and the Fox Sports properties. Movie Studio, Fox owned channels (National Geographic, FX1, FX2) and overseas networks would go to Disney.
If a deal like this did happen and did receive regulatory approval, it could have some significant effects on sports. For one thing, Sky would be reportedly included in the sale, which would dramatically expand Disney’s overseas sports presence. Beyond that, acquiring Fox’s movie studio, FX, and National Geographic would give Disney a whole new lineup of TV and movie rights, and that could potentially be rolled into their planned non-sports streaming service (currently planned for a 2019 launch, a year after the ESPN streaming service rolls out, and expected to feature Marvel and Star Wars properties as well as other Disney content).