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Comcast lets Disney win the 21st Century Fox bidding war

Comcast lets Disney win the 21st Century Fox bidding war
[Photo: Flickr user Mike Mozart; Flickr user HarshLight]

For months, Comcast and Disney have been embroiled in a bidding war over Twenty-First Century Fox. The two had competing visions of what they’d do with the company. Most recently, Disney bid $71 billion, and all eyes were on Comcast to see what it would do.

It turns out, $71 billion was just a tad too rich for the media conglomerate. In a statement, the company 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.”

While this bidding war is over, Disney is also looking to buy Sky, so the battle will continue. Currently, Comcast bid $34 billion on the British media company. We’ll see if Disney counters.

In another statement, Comcast chairman and CEO Brian 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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