Comcast Ends Pursuit of Fox Assets

Comcast Corporation has said it will no longer pursue its bid to acquire assets of 21st Century Fox and instead will focus on its offer for Sky.

Comcast had been engaged in a bidding war to buy the assets that 21st Century Fox agreed to sell to The Walt Disney Company. Now, it is bowing out. Brian L. Roberts, chairman and CEO of Comcast Corporation, 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.”

Instead, Comcast will focus on its recommended offer for Sky. The British government has already cleared 21st Century Fox’s bid to take full control of Sky. 21st Century Fox recently increased its offering price for the shares in Sky it does not already own, topping a rival bid by Comcast, which then upped its bid to acquire the European pay-TV giant, offering £14.75 per share, for a total value of $34 billion.