Culture&Arts

Comcast Drops Bid for Fox, Leaving Disney's Acquisition Path Clear

Comcast Drops Bid for Fox, Leaving Disney's Acquisition Path Clear

"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", the company said on Thursday.

In a battle among media giants for control of Twenty-First Century Fox's entertainment business, Comcast has blinked.

Comcast announced that it would drop out of the bidding war for assets now owned by 21st Century Fox, paving the way for Disney to complete the Hollywood-shaking merger.

Commenting on the deal between Disney and 21st Century Fox, Mr Roberts said: "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".

It has been an epic clash of media titans worthy of a blockbuster movie itself like, say, the X-Men - notably a property of 21st Century Fox.

It's worth noting that Fox initially preferred Disney over Comcast anyway in the battle for its assets.




Comcast last week raised its bid for Sky, topping a previous offer made by 21st Century Fox.

Comcast came along in June with a higher offer ($65 billion) for the same assets, which just so happens to include those high-profile Marvel characters that the Disney-based Marvel Cinematic Universe would love to get its hands on.

Disney launched its offer for Fox's assets last December at $52.4 billion as the Murdoch family announced they would reorganize to focus on Fox News, the Fox broadcast network and some sports operations.

Comcast fought valiantly to acquire Fox's assets, which include the film and TV studio, a number cable networks including FX and National Geographic, and an additional 30% of Hulu.

A top U.S. Justice Department official, Makan Delrahim, praised the deal as being carefully sculpted to avoid antitrust concerns, signaling federal regulators were unlikely to block it. If Fox is successful, then Disney will end up owning all of Sky. And asked Thursday morning if the Comcast announcement in any way diminished Fox's appetite for Sky, a Murdoch spokesman emailed to NPR a one-word response: "Nope".


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