Jul 19, 2018

Comcast backs down in fight for 21st Century Fox

Comcast has said it will no longer pursue a takeover of 21st Century Fox's film and television assets, leaving Disney as the sole bidder. Meanwhile Comcast has been battling with Rupert Murdoch's 21st Century Fox to buy Sky. Last week, Comcast increased its offer for Sky to value the business at £26bn, just after Mr Murdoch's company raised its bid to £24.5bn. Twenty-first Century Fox already owns 39% of Sky and wants to take control of the remaining business. In a statement on Thursday, Comcast chairman and chief executive Brian Roberts, 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.". Commenting on the deal between Disney and 21st Century Fox, Mr Roberts said: "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."

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