After a bid war between Comcast and Disney to gain assets from 21st Century Fox, reports are coming in this morning that Comcast has officially dropped out after The Walt Disney Company’s bid of $71 billion. However Comcast will focus on bidding for British broadcaster Sky for $34 million, which Disney is also trying to buy through Fox. Sky currently has 23 million paying subscribers across five European countries, making it a key asset for Disney to compete with Netflix and Amazon.
While Comcast has dropped out, this doesn’t mean it’s an official done deal between Fox and Disney… but it’s looking like a Disney win. Shareholders of Disney and Fox are set to vote on the deal on July 27, 2018.
Source: The Washington Post, CNN