US cable company Comcast has dropped out of the race for 21st Century Fox’s entertainment and international assets, clearing the way for Disney to acquire a piece of Rupert Murdoch’s media empire.
Comcast said in a statement: “When a set of assets like 21st Century Fox’s becomes available, it’s our responsibility to evaluate if there’s a strategic fit that could benefit our company and our shareholders. That’s what we tried to do and we are no longer engaged in the review of those assets. We never got the level of engagement needed to make a definitive offer.”
Comcast expressed interest in Fox’s assets after reports emerged in November that Disney and Fox had engaged in potential sale talks earlier this year. Disney and Fox restarted those talks last week.