Comcast admits defeat in bidding war for Fox, clearing path for Disney
Comcast is abandoning its attempt to purchase 21st Century Fox properties, the cable company announced today.
"Comcast does not intend to pursue further the acquisition of the 21st Century Fox assets," Comcast said in a statement.
That doesn't mean Comcast is done trying to buy media properties, however. Comcast's statement said that it will focus on its attempt to purchase Sky, a British media and pay-TV company. Comcast last week raised its bid for Sky, topping a previous offer made by 21st Century Fox.