As rumors that Disney is getting closer to buying 21st Century Fox assets, one of the competing suitors has dropped from the competition. The Wall Street Journal is reporting that Comcast is no longer pursuing a deal. Experts are saying that this development signals a deal may be close with Disney. The Philadelphia-based cable giant appeared to be interested in some of Fox’s film and television assets, specifically the ones that would grow the company’s global reach like India’s Star TV and Britain’s Sky.
Comicast released a statement published by Reuters where they said:
“When a set of assets like Fox’s becomes available, it is our responsibility to evaluate if there is a strategic fit that could benefit our company and our shareholders. That is what we tried to do and we are no longer engaged in the review of those assets. We never got the level of engagement needed to make a definitive offer.”
When word hit that talks between Disney and Fox had stopped, Comcast and other companies like Verizon and Sony Pictures, jumped into test the waters. But when Disney returned to the table, it once again became the front runner. Part of the concern for Comcast would be regulatory consideration similar to what the Justice Department is suing to block with the planned merger between AT&T and Time Warner based on anti-competitive concerns. There wouldn’t be those issues with Disney.