Comcast Corporation has bowed out of continued negotations with 21st Century Fox for its entertainment and sports assets. In a statement to Variety, the conglomerate said they "never got the level of engagement needed to make a definitive offer."
“When a set of assets like 21st Century Fox’s becomes available, it’s our responsibility to evaluate if there’s a strategic fit that could benefit our company and our shareholders,” Comcast said. “That’s 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. We have a terrific company with a strong portfolio of businesses and will continue to focus on driving growth, innovating, creating great content, and providing excellent experiences for our customers.”
Talks between Fox and the Walt Disney Company are reportedly still ongoing.