Disney Nearing Finish Line With 21st Century Fox as Comcast Bows Out of Acquisition Hunt

Cynthia Littleton

Disney has such an inside track on reaching a $60 billion-plus deal to acquire key entertainment and sports assets from 21st Century Fox that Comcast has formally exited the chase.

Comcast said Monday it was “no longer” looking at Fox’s film and TV studio and other assets as acquisition targets. The cable giant had yet to comment on its interest in Fox prior to Monday’s statement. But with Hollywood abuzz of a Disney-Fox deal coming down within the next few days, Comcast made a point of getting the first word in on its effort.

“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 in a statement. “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.”

More to come

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