BREAKING: Comcast Drops Out of the Bidding War for Fox, Leaving a Clear Path for Disney
In a somewhat shocking piece of news, Comcast has decided to drop out of the bidding war for 21st Century Fox. This leaves Disney as the only company with an open offer for Fox, and thus the clear favorites to acquire Fox.
Comcast decided to drop out of the race after Disney’s latest bid of $71 billion, citing a desire to focus on acquiring European TV service, Sky. Previously, Comcast bid $65 billion for Fox, which was more than Disney’s original offer and started a “bidding war” for Fox.
Last week, Comcast boosted its offer for Sky to $34 billion after Fox increased its offer for the same company to $32.5 billion. According to the Associated Press, Sky “operates in Austria, Germany, Ireland, and Italy as well as the U.K. It has 22.5 million customers, attracted by offerings such as English Premier League soccer and “Game of Thrones”.