Mubasher: Walt Disney Company is now in pole position to acquire 21st Century Fox after Comcast Corporation abandoned its bid for the media giant.
It was recently reported that Disney and 21st Century Fox are closing in on a deal.
Disney is reportedly holding talks with Rupert Murdoch to acquire the studio and television production assets of his company, leaving Fox with its news and sports assets, in a deal that is valued at more than $40 billion.
“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,” Comcast said in a statement.
"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," the statement added, as cited by Reuters.
Disney’s negotiations with Fox are continuing, and a deal could be reached as early as this month, sources close to the situation told the news agency on Monday.
