Thursday, July 19, 2018

Comcast Drops Bid for Fox Assets

Today, Comcast announced that it is dropping its $65 billion bid for Twenty-First Century Fox assets. Instead, Comcast will focus on its $34 billion bid for the British company Sky. 

As discussed in a blog last week by FSF Senior Fellow Ted Bolema, Comcast and Disney have been aggressively bidding on Fox assets, including Twenty-First Century Fox movie and TV studios, FX channels, controlling interests in National Geographic Partners, as well as non-controlling interests in Hulu. This announcement leaves Disney as the favorite to acquire these Fox assets, a decision that will be made by Fox shareholders on July 27, 2018.