Executives from 21st Century Fox and Starz met Tuesday to discuss a potential acquisition of the premium cable channel by Rupert Murdoch's media conglomerate.

Chris Albrecht, chief executive of Starz, along with investment bankers visited Fox executives on their studio lot in Los Angeles. Three people confirmed the story to the L.A. Times, but said no deal has been made and one may never materialize.

The company's full acquisition is valued at more than $3.2 billion since its share price Tuesday was $29.58.

Sources said another company might make a deal with Starz, or that Fox may buy ownership stake instead of fully buying Starz. One person told the L.A. Times that Fox took the meeting with Starz as a courtesy, but is not seriously considering purchasing the company.

"As a public company, we do not comment on rumors or speculation," Starz said in a statement.

This rumored acquisition comes about two months after Fox put in a surprise bid on Time Warner, but later abandoned the offer. The $80 billion bid from Murdoch's company has been a part of a larger series of moves to consolidate entertainment channels even further among conglomerates.

If a purchase is in store for Starz, the winning bidder will also get the Encore movie channel as part of the deal. These two networks have 56 million combined subscribers, far more than Time Warner's HBO or Cinemax and CBS' Showtime.

Starz and Encore have been publicly traded companies since Jan. 2013 when Liberty Media Corp. decided to give up control of the networks. Since then, Starz has doubled its market value and consulting firm SNL Kagan said that their revenue is set to reach $1.4 billion this year.

Albrecht was brought on in 2010 to improve original programming on the channel. Albrecht's experience launching "Sex and the City," Six Feet Under" and "The Sopranos" when he worked with HBO helped to attract producers and writers to Starz.