Comcast Corporation has publicly ceased its pursuit of Twenty-First Century Fox's media assets up for sale, seemingly clearing the way for the Walt Disney Company's acquisition plans. In a statement obtained by Variety, Comcast said they will focus on another pending acquisition and congratulates Disney and Fox on their deal.
"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,” read the company statement.
“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," Comcast's chairman/CEO Brian L. Roberts added.
Disney and Fox have agreed to a $71.3 billion dollar deal for Disney to acquire a bulk of Fox's media assets, including the 20th Century Fox film studio, Fox's stake in Hulu, and the cable networks FX and Nat Geo.