Comcast has announced it will no longer pursue its bid for 21st Century Fox’s entertainment assets, instead it will focus on its attempt to acquire Sky.
In an official statement, the company said: “Comcast does not intend to pursue further the acquisition of the 21st Century Fox assets and, instead, will focus on our recommended offer for Sky.”
CEO Brian Roberts added: “I’d like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company.”
The announcement leaves the way open for Disney to buy Fox’s assets with its $71 billion offer. The US Department of Justice has approved Disney’s bid as long as it sells 22 regional sports networks.
Fox shareholders are set to vote on Disney’s offer 27th July.