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Comcast stops buying Fox assets to focus on its entry into Sky

Comcast ends the dispute with The Walt Disney Company for control of Rupert Murdoch's entertainment empire.

Comcast

Comcast has given up this Thursday its attempt to acquire the assets of 21st Century Fox, giving up to the dispute with The Walt Disney Company for control of Rupert Murdoch's entertainment empire.

The company acknowledges in a statement that "Comcast does not intend to move forward with the acquisition of Twenty-First Century Fox's assets and will instead focus on our recommended offer for Sky."

In the midst of Disney's negotiation to acquire Fox, Comcast presented an offer that improved it, which began a bid to acquire Murdoch's company. The most recent offer was announced on June 20, when Fox and Disney reached a new merger agreement in principle that improved the previous one and surpassed Comcast's last offer.

In this agreement, Disney raised its offer for Fox to $71.3 billion, or $38 per share, after Comcast raised an offer of $65 billion for some assets of Rupert Murdoch's group.

Now, Comcast will focus on buying pay TV group Sky, which has also received purchase offers from 21st Century Fox.

By, Jul 20, 2018, Section:Cine, Business, Television

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