Comcast Corp. today handed a big prize to Disney, announcing that Comcast is no longer bidding for the entertainment assets being sold off by 21st Centrury Fox.
In a statement, Comcast said: “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.”
Brian L. Roberts, Comcast chairman and CEO, added: “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.”
Iger responded to the news in a statement released by Disney, saying: “Our incredible enthusiasm for this acquisition and the value it will create has continued to grow as we’ve come to know 21st Century Fox’s stellar array of talent and assets. We’re extremely pleased with today’s news, and our focus now is on completing the regulatory process and ultimately moving toward integrating our businesses.”
Comcast’s brief statement can be seen in full by clicking here.