After a summer of back-and-forth bids between Comcast and Disney for select entertainment assets owned by 21st Century Fox, Comcast today confirmed that it is bowing out of the bidding war for Fox. The company says the move is to instead focus on acquiring European satellite TV provider Sky, another much-sought-after entertainment company that is seeing interest from the likes of Comcast, Fox, and Disney (via Variety).

comcast logo
For the purchase of 21st Century Fox, this means that Disney is now expected to finally win the bid and close out the acquisition deal in the near future. The most recent steps in that process saw Disney and Fox agree to a $71.3 billion cash and stock deal, which has now also been approved by the Department of Justice on the condition that Disney sells off 22 regional Fox sports networks.

In the announcement confirming that it will not place another bid on Fox, Comcast CEO Brian L. Roberts congratulated Disney and its CEO Bob Iger:

“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,” the company said in a statement Thursday.

Brian L. Roberts, Comcast chairman-CEO, added: “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.”

Disney originally announced interest in acquiring 21st Century Fox last December, starting its bidding at $52.4 billion in stock before Comcast forced it to increase the amount and introduce a cash component. Once the acquisition is final, Disney will own Twentieth Century Fox Film and Television Studios and Fox-related cable and international TV businesses.

At the time, Disney leadership said that the new Fox assets will build on the company's "commitment to deliver the highest quality branded entertainment," as well as fuel its ability to "create more appealing content." The company also referenced its intent to deliver a "more compelling" entertainment experience to Disney consumers "whenever and however" they choose.

Disney said that the Fox assets would accelerate its use of certain technologies, including the recently acquired BAMTech platform, which it aims to use for its solo-streaming service. With the acquisition, Disney will immediately gain a large stable of old and new television shows and movies to populate its upcoming streaming service, expected to launch in 2019 and compete with Apple's own streaming TV service.

Top Rated Comments

TechGuy327 Avatar
86 months ago
It is of no concern. Soon the rebellion will be crushed and young Skywalker (FOX) will be one of us.
— Emperor Palpatine
Score: 4 Votes (Like | Disagree)
Bornee35 Avatar
86 months ago
deadpool in Infinity War 2 confirmed?
Score: 4 Votes (Like | Disagree)
Centris 650 Avatar
86 months ago
Yay! Now where’s my rebooted X-Men and Fantastic Four movies?!!!!
Score: 4 Votes (Like | Disagree)
M.PaulCezanne Avatar
86 months ago
Take that ISP bully!
Score: 2 Votes (Like | Disagree)
chucker23n1 Avatar
86 months ago
CEO Congratulates Disney
Congratulations, citizens: antitrust is dead.
Score: 2 Votes (Like | Disagree)
maflynn Avatar
86 months ago
I thought they already did when Disney upped their offer to 71Billion. I thought the proxy votes for the merger were already mailed out to share holders. I don't think it even qualified for a bidding war, more like a bidding skirmish
Score: 1 Votes (Like | Disagree)

Popular Stories

2007 iPhone

Apple Discontinuing This 18-Year-Old iPhone Feature

Saturday February 8, 2025 3:51 pm PST by
The end of an 18-year era is on the horizon for the iPhone. Apple reportedly plans to announce a new iPhone SE as soon as next week, and the device is expected to feature a full-screen design with Face ID, instead of a Touch ID home button. That means Apple will no longer sell any new iPhone models with a home button, for the first time since the original iPhone launched. The home button...
oppo find n5 fingers

World's Thinnest Foldable Phone Launches Next Week

Monday February 10, 2025 3:05 am PST by
Oppo has confirmed a February 20 global launch for its Find N5, which the company claims is the world's thinnest device in the foldable phone category. The phone is expected to be re-branded as the OnePlus Open 2 in the US. The Chinese vendor has been teasing the device in the last few weeks, touting its waterproofing and nearly invisible display crease, and highlighting its thinness by compa...
m2 macbook air blue

M4 MacBook Air Release Continues to Appear Imminent

Monday February 10, 2025 10:56 am PST by
There continue to be signs of a new MacBook Air with an M4 chip, indicating that we could see the machine launch in the not too distant future. A private account on X today shared the identifiers that the MacBook Air will use, and those identifiers correspond to the M4 chip. According to the source, both the 13-inch MacBook Air and the 15-inch MacBook Air will be equipped with Apple's...
iCloud General Feature Redux

iPhone Users Who Pay for iCloud Storage Receive an All-New Perk

Thursday February 6, 2025 11:21 am PST by
If you pay for iCloud storage on your iPhone, Apple has a new perk for you, at no additional cost. iCloud+ is the official name for Apple's paid iCloud storage plans, which range from 50GB for $0.99 per month to 12TB for $59.99 per month in the United States. iCloud+ plans already come with multiple perks for free, such as Hide My Email and HomeKit Secure Video, and now there is another one...
sequoia

Apple Releases macOS Sequoia 15.3.1

Monday February 10, 2025 10:11 am PST by
Apple today released macOS Sequoia 15.3.1, a minor update to the macOS Sequoia operating system that came out last September. macOS 15.3.1 comes a few weeks after the launch of macOS Sequoia 15.3. Mac users can download the ‌‌‌macOS Sequoia‌‌‌ update through the Software Update section of System Settings. Apple has also released macOS 13.7.4 and macOS 14.7.4 for those who are...
imac video apple feature

Apple to Announce New Products Next Week

Saturday February 8, 2025 10:55 am PST by
Apple has yet to release any new devices in 2025, but at least two new products are expected to be announced next week, according to rumors. Below, we outline the new Apple products that are likely to be unveiled next week. iPhone SE 4 Apple plans to announce the long-rumored iPhone SE 4 as soon as next week, according to Bloomberg's Mark Gurman. The new iPhone SE is rumored to...
apple silicon mac lineup 2024 feature purple

Apple Increases Mac Trade-In Values for a Limited Time

Sunday February 9, 2025 3:53 pm PST by
Apple today increased its estimated trade-in values for select Mac models in the United States, with the full changes outlined below. Apple says the extra trade-in credit for select Macs is available with the purchase of an eligible new Apple device through April 2. The trade-in values increased by between $10 and $50. Model New Value Old Value MacBook Pro Up to $925 ...
Powerbeats Pro 2 Orange

Powerbeats Pro 2 Given to Customer Early, Expected to Debut Tomorrow

Monday February 10, 2025 7:42 am PST by
Apple's long-awaited Powerbeats Pro 2 are finally expected to be announced this Tuesday. Ahead of time, one lucky Walmart customer was able to get their hands on the earbuds early, according to a since-deleted Reddit post over the weekend. A leaked image of the Powerbeats Pro 2 in Electric Orange "My local Walmart had them in the cage," the Reddit user explained. "I asked if I can buy them...