Men Closer To Joining MCU As Comcast Exits Bidding War With Disney

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Back in May, the cable company looked to have pipped Disney at the post with an all-cash bid, but today's withdrawal signals the end of what was undoubtedly one of the biggest corporate duels in modern media history.

"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", said Comcast CEO Brian Roberts.

As reported by Engadget (reporting from CNBC), Comcast will now focus on purchasing a percentage of Sky, a United Kingdom telecom network that Fox does not own at present. Both Comcast and Disney had been coveting the prized assets being sold by Murdoch, which include the Fox studios in Hollywood and important film and television production operations.

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Comcast on Thursday confirmed it'll no longer pursue 21st Century Fox and will focus instead on its bid for United Kingdom broadcaster Sky. Though Rupert Murdoch and his sons were allied with Disney Chairman Robert Iger in pursuing a deal, they stand to make far more money this way.

Negotiations between Disney and Fox began in late 2017, but hit a snag when Comcast unexpectedly beat Disney's offer.

Disney's announcement of its purchase of 21st Century Fox happened in December, after weeks of rumors.

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The Fox sale does not include major assets such as the Fox News Channel, Fox Business Network, and Fox Broadcasting Company.

Comcast also faced a potentially hostile Justice Department over an antitrust regulatory review of a Comcast/Fox deal. Disney is the parent company of ABC7.

Comcast, seeing the landscape consolidate around it, moved aggressively to bid up the Fox assets, raising its offer in the immediate aftermath of a federal judge's ruling clearing the way for AT&T and Time Warner to get together.

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For Fox shareholders, they may enjoy seeing Comcast try, but for Fox employees...

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