Comcast Drops Their Plans to Buy FOX Leaving Disney as The Sole Buyer


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Back in June Disney rushed out a $1.3 billion deal to outbid Comcast to buy FOX. Now Comcast has officially ended their plans to buy FOX. In a statement, today Comcast said: “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.” Comcast’s Chairman and CEO Brian L. Roberts said “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.”

“We are extremely proud of the businesses we have built at 21st Century Fox, and firmly believe that this combination with Disney will unlock even more value for shareholders as the new Disney continues to set the pace at a dynamic time for our industry,” said Rupert Murdoch, Executive Chairman of 21st Century Fox. “We remain convinced that the combination of 21CF’s iconic assets, brands and franchises with Disney’s will create one of the greatest, most innovative companies in the world.”

With this deal, Disney will get ownership of 20th Century Fox movie and television studio, Fox’s 22 regional sports channels, (Disney has now agreed to sell of the 22 regional sports networks as part of a DOJ deal), cable channels including FX and National Geographic, and Fox’s portfolio of international operations, including a fast-growing pay-TV service in India. The deal will also give Disney 60% ownership of Hulu.

The deal does not include Fox News, the Fox broadcast network, television stations, Fox Sports 1 and Fox Sports 2. His newspapers such as Wall Street Journal, New York Post, Times of London and a portfolio of Australian properties are housed in a second company, News Corp.

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