Disney agreed to buy the children's programming business, which broadcasts to 81m cable subscribers, for $3bn (£2.1bn) with the assumption of $2.3bn (£1.6bn) in debt. However, reports suggest that the new reduced price could be announced in the next few days.
Disney beat rivals Viacom and AOL Time Warner to the network in July this year.
News Corp and Saban Entertainment announced in June that they were to sell their joint venture, following months of disputes between co-owners Rupert Murdoch and Haim Saban.
In January, Saban had exercised an option that required News Corp to buy his 49.5% stake in the business. The co-owners were unable to agree on a price for the business, with Saban hoping for around $6bn (£4.2bn) with $2bn (£1.4bn) of debt, but Murdoch valuing the business at a far lower price. They finally settled on an asking price in June.
Disney will acquire a 76% holding in Fox Kids Europe, the children's programming network, but not the programming arm. Saban is expected to sell his stake in Fox Kids programming to News Corp in a separate deal.
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