Comcast ends pursuit of Fox media assets

Comcast will no longer pursue a bid for 21st Century Fox's media assets, ending its monthslong bidding war with Disney, according to CNBC.

Disney and Comcast have been fighting for Fox's media assets since late 2017. Disney's latest bid came in at $71.3 billion, topping Comcast's previous $65 billion all-cash offer. Comcast will now focus on its acquisition of Britain's Sky media company.

"I’d like to congratulate [Disney CEO] Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company," said Comcast CEO Brian Roberts, according to CNBC.

Mr. Iger expressed excitement about  Comcast's decision.

"Our incredible enthusiasm for this acquisition and the value it will create has continued to grow as we’ve come to know 21st Century Fox’s stellar array of talent and assets," said Mr. Iger, according to CNBC. "We're extremely pleased with today’s news, and our focus now is on completing the regulatory process and ultimately moving toward integrating our businesses."

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