Comcast is out of the Bidding Wars Against Disney in Wanting to Acquire Fox

Comcast is out of the Bidding Wars Against Disney in Wanting to Acquire Fox 2

Comcast previously announced that they were planning on purchasing 21st Century Fox, however, today, the company announced that they have given up on the prospect, leaving Disney as the likely winners with their $71.3 billion offer.

Back in June of this year, Comcast made the announcement that they were planning on purchasing 21st Century Fox, which Disney had also shown interest in, by offering a bid of $65 billion on the table. Comcast has stated that they will instead shift their focus on to acquiring the European service Sky media service.

“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 spokesman for the company, earlier today.

Disney first showed interest towards acquiring Fox back in December of last year, however, due to conflicts of interest with the Justice Department, which would force Disney having to forgo some substantial assets in order to acquire the sale, coupled Comcast’s interest in the company, the decision was left in the air until further notice.

With Comcast out of the picture and with Disney winning their case regarding anti-trust approvals in relation to Fox with the Justice Department, the company is now in the clear, which will most likely result in Disney acquiring 20th Century Fox

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