Disney triumphs in battle for Fox properties as Comcast drops out of bidding
Cable giant Comcast said it would now focus on acquiring European pay TV operator Sky
Comcast has dropped out of a bidding war with Disney for the prized film and television operations of Rupert Murdoch’s 21st Century Fox, effectively clearing a path to a new landscape in the media-entertainment world.
The cable and media giant said in a statement on Thursday that it would instead focus on acquiring the European pay TV operator Sky, shifting its stand on how it approaches the latest round of consolidation in the sector.
The move effectively ensures that Disney will be able to complete its US$71.3 billion merger with Fox that creates a new powerhouse in the sector while Murdoch slims down his media empire.
“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,” said a statement from the group, the leading US cable operator and owner of NBCUniversal.
Brian Roberts, Comcast’s chairman and chief executive, added: “I’d like to congratulate (Disney chairman and chief executive) Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company.”
