Comcast Drops Out of Bidding War; Disney Set to Acquire Fox

By: Amy Kawa

Comcast has dropped out of the bidding war for 21st Century Fox, leaving the path wide open for Disney to “win” the acquisition.  Disney upped their previous bid to $71 billion, outbidding Comcast’s $65 billion try.  Comcast stepped down to pursue European TV service, Sky (for a much cheaper price tag).

The Justice Department already gave Disney the all-clear for the purchase of Fox as long as they divest themselves of Fox’s 22 regional sports networks.  Fox shareholders will meet on July 27th to vote on the potential sale to Disney.

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