Comcast has pulled out of its pursuit to acquire the entertainment assets of 21st Century Fox, ceding the battle to Disney who looks to now have a clear run to take over Fox.
The company says in a statement: “Comcast does not intend to pursue further the acquisition of the Twenty-First Century Fox assets and, instead, will focus on our recommended offer for Sky.” CEO Brian Roberts added: “I’d like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company.”
Comcast is still bidding for Sky, which is 39% owned by Fox, with a reported $34 billion offer on the table.
Source: CNBC
