Comcast drops pursuit of 21st Century Fox assets, ending bidding war with Disney

Comcast drops pursuit of 21st Century Fox assets, ending bidding war with Disney

Comcast said Thursday it would not pursue its bid to buy assets of Twenty-First Century Fox, choosing to focus on its offer for Britain's Sky. Shares of Comcast jumped 2.9 percent in premarket trading, while Fox fell 1.2 percent. The announcement ends one of the biggest battles in the media industry this year, as Comcast fought with Disney to acquire Fox's movie studio and television assets. Disney had recently outbid Comcast's $65 billion all-cash offer with a $71 billion cash-and-stock offer.

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