Comcast Drops Quest for Fox Assets
The decision leaves Disney alone in its pursuit of a deal estimated to be worth between $40 billion to $60 billion.
Comcast has backed away from considering a purchase of 21st Century Fox assets, leaving Disney alone in its pursuit of a deal estimated to be worth from $40 billion to $60 billion.
"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," Comcast said in a statement emailed to The Hollywood Reporter. "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."
Reuters first reported the news Monday.
Disney is negotiating to purchase Fox assets that include the film studio and some cable channels, though not the Fox News Channel, Fox Business Network and Fox broadcasting network, home of The Simpsons and Empire.
"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," Comcast said.