After the month long battle between Comcast and Disney over 21st Century Fox, the media mogul Comcast has finally decided to drop its bid. Disney most recently bid was at an astronomical $71 billion after Comcast bid a $65 billion, but they have now decided to pursue other ventures.
Those ventures include another battle with Disney over the British broadcaster, Sky, which Disney is attempting to buy through Fox. Currently they are offering $34 million. If Comcast does take over Sky, it would deny both Disney and Fox a major direct-to-own consumer platform in Europe, thus cutting the “crown jewel” of Fox assets, but so far only time will tell.
The Fox broadcasting, news and sports networks are still currently owned by Rupert Murdock, particularly Fox News.
The Disney-Fox Merger, for those who haven’t been following, includes film studio 20th Century Fox, FX Networks, National Geographic, a sizable portion of Hulu, and presumably a sizable portion of Sky prior to this latest development.