Comcast Drops Bid for Fox Assets, Leaving Disney in Pole Position
Comcast said on Monday it had abandoned its bid for most of the assets of Twenty-First Century Fox, leaving Walt Disney as the sole suitor in pursuit of the $40 billion-plus deal.
“When a set of assets like Fox’s becomes available, it is our responsibility to evaluate if there is a strategic fit that could benefit our company and our shareholders. That is what we tried to do and we are no longer engaged in the review of those assets. We never got the level of engagement needed to make a definitive offer,” Comcast told Reuters in a statement.
Disney’s negotiations with Fox are continuing, and a deal could be reached as early as this month, other sources close to the situation said, asking not to be identified discussing confidential deliberations.
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Disney and Fox did not immediately respond to requests for comment.