21^st Century Fox: Comcast not to pursue acquisition in order to focus on offer for Sky

"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," said the US media conglomerate and cable operator, on 19/07/2018. Comcast is competing with 21^st Century Fox, a film and media production conglomerate, backed by US media and entertainment conglomerate The Walt Disney Company, for the acquisition of the UK television group Sky.

The Walt Disney Company had reached an agreement with 21^st Century Fox to acquire 20^th Century Fox, the studio of the US group, and various TV assets, including 39.1% of the pay-TV group Sky, for an amount of $52.4bn (€45bn), on 14/12/2017. Comcast made a counter offer to 21^st Century Fox for $65bn on 13/06/2018, followed by another by the Walt Disney Company for $71.3bn ($61.3bn), on 20/06/2018.

Regarding the Sky takeover bid, Comcast and 21^st Century Fox increased their offers on 11/07/2018. 21^st Century Fox, a 39.1% shareholder of Sky, made an offer at £14 (€15.84) per share, to acquire the remaining 60.9%, which valued Sky at £24.5bn (€27.7bn)…