Comcast gives up 21st Century Fox and will focus on acquiring Sky

Comcast has formally withdrawn its competing US$65 billion bid to acquire 21st Century Fox and will focus on acquiring Europe’s Sky. 

Comcast Corporation issued the following statement regarding its pursuit of the assets Twenty-First Century Fox has agreed to sell to The Walt Disney Company: “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,” said Brian L. Roberts, Chairman and CEO, Comcast Corporation.

“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,” Roberts added.