Comcast reportedly giving up on pursuit of Fox assets, clearing the way for Disney

Comcast may be waving the white flag in the bidding war for Fox. CNBC reports that Comcast is unlikely to increase its previous $65B bid to try and top Disney’s current $71.3B bid for most of 21st Century Fox. Disney, already a heavy favorite to acquire Fox, can now work on finalizing the deal with little or no opposition.

Comcast will instead focus on acquiring the majority of British pay-TV provider Sky. Fox already owns 39% of Sky and will sell that share to Disney. Fox is hoping to acquire the remaining 61% of Sky that they do not own, which Fox would also sell to Disney. Comcast, however, currently has the higher bid for that remaining 61%.