If you have been keeping track of the Comcast Vs. Disney battle then, this news would be a very exciting one for you. Comcast has officially pulled out the bid for purchasing 21st Century Fox, and this has allowed Disney to move ahead with its goal of bringing the film rights to Fantastic Four and X-Men to the Marvel Studios.
“Comcast does not intend to pursue further the acquisition of the Twenty-First Century Fox assets and, instead, will focus on our recommended offer for Sky,” the company said.
With the company, Comcast now focusing on buying Sky, they have raised the bid to $34 billion for a 61% controlling stake.
The CEO of Comcast, Brian Roberts had congratulated to the CEO of Disney, Bob Iger:
“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.”
With Comcast, not a competitor anymore, Disney can easily move ahead, and this bars the
shareholder and regulatory approval, with the acquisition of Fox’s TV studios and movie. A few of the franchises that would be of interest to all fans are Fantastic Four, X-Men, Avatar ad Deadpool.
In June, Disney had won the antitrust approval for buying Fox’s assets after following an agreement with U.S. Justice Department that calls for the divestment of 22 regional sports networks.
Disney had also raised the bid from $$52.4 billion to $71.3 billion. When having been given a preference of who they would like to sell to, the Murdoch Family had chosen Disney because of Iger’s track record and the story of Disney’s stock.