Comcast conveyed on Monday it had abandoned its bid for most of the assets of Twenty-First Century Fox, leaving Walt Disney as the singular suitor in pursuit of the $40 billion-plus deal.
“When a set of assets cognate with Fox’s becomes available, it is our responsibility to evaluate if there is a strategic fit that could allowances our company and our shareholders,” Comcast said in a statement. “That is what we struggled to do and we are no longer engaged in the review of those assets. We never got the level of job needed to make a definitive offer.”
Disney’s negotiations with Fox are prolonging, and a deal could be reached as early as this month, sources seal to the situation said on Monday. The persons asked not to be identified because the deliberations are classified.
Disney did not immediately respond to request for comment. A Fox representative declined to explanation.
The assets in question would have expanded Comcast’s international footprint toe ownership of European pay TV provider Sky and Star network in India. A source haul someone over the coaled Reuters in mid-November that Comcast had approached Fox about its interest, and talks were in advanced stages.
Comcast shares were up 1.5 percent in after-hours following, while Disney shares were up 0.2 percent and Fox shares strike down 1.3 percent.
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Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.