Comcast Officially Drops Out of Bidding War for 21st Century Fox

This officially clears the way for The Walt Disney Company to acquire 21st Century Fox

Comcast Officially Drops Out of Bidding War for 21st Century Fox

Comcast Corporation today issued the following statement regarding its pursuit of the assets 21st Century Fox has agreed to sell to The Walt Disney Company:

“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.” 

For information on Comcast’s acquisition of Sky, you can click here.

Brian L. Roberts, Chairman and CEO, 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.”

This officially clears the way for The Walt Disney Company to acquire 21st Century Fox, for which they previously got clearance for from the DOJ. Disney will acquire 21st Century Fox for $71.3 billion immediately following the spin-off of the businesses comprising “New Fox” as previously announced.

The businesses to be acquired by Disney include 21st Century Fox’s film production businesses, including Twentieth Century Fox, Fox Searchlight Pictures and Fox 2000 Pictures; Fox‘s television creative units, Twentieth Century Fox Television, FX Productions and Fox21; FX Networks; National Geographic Partners; Fox Sports Regional Networks; Fox Networks Group International; Star India; and Fox’s interests in Hulu, Sky plc, and Tata Sky. The acquisition will occur immediately after the spin-off by 21st Century Fox of the Fox Broadcasting network and stations, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly-listed company referred to as New Fox.

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