Comcast admits defeat in bidding war for Fox, clearing path for Disney

Screen Shot 2018 07 19

In a statement obtained by Variety, Comcast said they will focus on another pending acquisition and congratulates Disney and Fox on their deal. Then Comcast attempted to top the bid with their own $65 billion offer in cash.

The next major date in Disney and Comcast's media standoff is July 27th, when Sky shareholders vote on whether to sell to either Fox or Comcast. Shares of Disney climbed 1.2 percent, while Fox's stock dipped 1 percent before the opening bell.

For one of Fox's assets though, the battle has only just begun. The Department of Justice has okayed Disney's bid as long as it sells 22 regional sports networks. Oh, and there might be some superheroes in there too, somewhere...

Despite the emphasis on the consumer, this seems to be a whole lot more important to the content creators, or at least the board members and executives they answer to.

Comcast is abandoning its attempt to purchase 21st Century Fox properties, the cable company announced today. As Disney is scheduled to launch its own streaming service to compete with Netflix and Hulu next year-even though this deal would potentially give Disney almost a one-third stake in Hulu-the value of that content can not be overstated, even from the Mouse House's coffers.

Brian Faber of CNBC was the first to reveal the news to Walt Disney Company CEO Bob Iger when he called for comment on Thursday, who responded by saying: 'Holy crap!'

This opens up so many possibilities for Disney, but most fans are very excited at the idea of Fox's Marvel characters crossing over into the Marvel Cinematic Universe.

Murdoch also seemingly benefitted from President Trump's admiration; with the Disney merger sailing through most anti-trust reviews in a breathtaking six months.

AT&T bought Time Warner last month for $81 billion and has already launched its own streaming service, Watch TV, with Time Warner channels such as TBS and TNT, among other networks, for $15 a month. At the same time, the two media giants have been aiming to take control of Sky, the British-based pay-T.V. operator in which Fox holds a 39 percent stake.

Related News:

  • Ga. officers use coin flip to determine if woman goes to jail

    Ga. officers use coin flip to determine if woman goes to jail

    The 11Alive Investigators have discovered that Roswell officers recently jailed a woman over a coin flip. Brown then arrests Webb, handcuffing her and putting her in the back of a patrol auto .
    US to impose extra tariffs on $200bn of Chinese imports

    US to impose extra tariffs on $200bn of Chinese imports

    Additionally, while the U.S.is a key export market for China, it still only accounts for 19 percent of total Chinese exports. The ministry said it "solemnly protests" the latest tariff list published by Washington, calling it "totally unacceptable".
    Maisie Williams Bids A Gory Goodbye To ‘Game Of Thrones’

    Maisie Williams Bids A Gory Goodbye To ‘Game Of Thrones’

    She's also been nominated for an Emmy for her performance on the series. Game of Thrones season 8 airs on Sky Atlantic and HBO from April 2019.
  • EU Fines Google $5 Billion Over Illegal Android Practices

    EU Fines Google $5 Billion Over Illegal Android Practices

    These laws are in place to ensure that fair competition is maintained among business corporations for the benefit of consumers. Competition commissioner Margrethe Vestager issued the fine for three "illegal restrictions" on how Android is used.
    Netflix Misses Big on Q2 Subscriber Growth, Stock Drops 11 Percent

    Netflix Misses Big on Q2 Subscriber Growth, Stock Drops 11 Percent

    Earnings per share of $0.85 topped estimates of $0.79, but revenue of $3.91 billion fell short of the expected $3.94 billion. The world's biggest tech company, Apple, also plans to launch a streaming service that would compete with Netflix .
    Trump renews war of words with London's Muslim mayor

    Trump renews war of words with London's Muslim mayor

    Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News. May welcomed Trump's decision to "engage" with Russian President Vladimir Putin in the Finnish capital on July 16.
  • Trump likely to handle Putin with kid gloves

    Trump likely to handle Putin with kid gloves

    As for Johnson, who was recently deposed, Trump said: "I think he would be a great prime minister". One man was selling rolls of "Trump toilet paper" emblazoned with a picture of the president.
    Chelsea Star Wants To Leave Amid Managerial Turmoil

    Chelsea Star Wants To Leave Amid Managerial Turmoil

    The Blues will be loath to let Hazard go, as he has arguably been their most vital attacking player over the last few seasons. Hazard has been linked with a Chelsea exit this summer after they could only finish fifth in the Premier League last term.
    Apple Music Reportedly Beats Spotify in Number of Paid U.S. Subscribers

    Apple Music Reportedly Beats Spotify in Number of Paid U.S. Subscribers

    The data was specifically referring to paid users as well, so no one still on either Apple or Spotify's free trial was included. The report also claims that Apple Music's growth is stronger than that of any other on-demand streaming service for music.
  • Israel bans occupation critics from schools

    Israel bans occupation critics from schools

    Since the protests and clashes broke out along the border on March 30, at least 141 Palestinians have been killed by Israeli fire. Kanou called on the worldwide community to "break its silence towards Israeli crimes against humanity".
    Murkowski stresses 'due diligence' as Senate considers Kavanaugh SCOTUS nomination

    Murkowski stresses 'due diligence' as Senate considers Kavanaugh SCOTUS nomination

    He not only is a Constitutional Law expert, but Fitzpatrick also knows the thinking of a Supreme Court Justice. Wade overturned, Pence replied, "I do, but I haven't been nominated for the Supreme Court".
    France advance to 2018 World Cup final

    France advance to 2018 World Cup final

    Here are the six England players who are most likely to get a career-changing move after their exploits in Russian Federation . The Langley Road alehouse - situated close to where England's manager was born - is rallying behind the Three Lions boss.


Most liked

Conte Thanks Chelsea For Two Unforgettable Seasons In EPL
Conte also won the Premier League in his first season in charge, which began with many believing Chelsea were in crisis. Sarri will be speaking ahead of Chelsea travelling to Western Australia for the July 23 friendly with Perth Glory.

Trivia Tuesday: Home Run Derby winners over the years
The record of opportunities for excellence available, yet never fully seized, loomed over Harper's Home Run Derby performance. The six-time All-Star arranged to have his dad, Ron, pitch to him in the annual contest on the eve of the All-Star Game .

Manchester United agree deal to sell Daley Blind back to Ajax
Ajax are hopeful of sealing a deal for the 28-year-old before United depart on their summer tour of the United States on Sunday. Blind, a Dutch worldwide , previously spent four years with the Ajax senior club before moving over to United four summers ago.

See photos of the Royal Family from Prince Louis’ christening
A larger group photo included Kate's parents, Carole and Michael , and her siblings, Pippa Middleton and James William Middleton . The Duke and Duchess hope that everyone enjoys this lovely photograph of Prince Louis as much as they do.

Pogba dedicates France win to Thai cave survivors
I have seen all their games played here, and one important thing is the fact that they have been improving with every game. Their playing style may not be attractive, but it was certainly effective and they have made their country very proud.

Donald Trump calls European Union a 'foe'
But simply because he considers these actors to be a "foe" does not necessarily mean that they are bad, he clarified. Trump arrived in Helsinki on Sunday evening after spending the day playing golf at his private club in Scotland.

Police say 4 protesters arrested after shooting
The father to a five-year-old, Augustus, also known as Snoop the Barber, worked in a barbershop near where he was shot. During the protest that followed the shooting, officers pulled people to the ground and struck them with batons.

Serena Williams set to ‘be a contender to win Grand Slams’
She credited training with Graf in Las Vegas, where Graf lives with husband Andre Agassi, with helping her turn things around. Kerber stamped her authority on the match from the very start, exploiting her opponent's backhand errors to break serve.

Belgium third in World Cup after 2-0 win over England
He has attempted seven shots in the knockout rounds and only his penalty kick goal against Colombia hit the target. We scored the biggest amount of goals in a Belgian team in World Cup history. "They push all of us".

Novak Djokovic breaks Kei Nishikori's resistance to reach Wimbledon semis
He came into the match having won 32 consecutive sets at Wimbledon , a run he stretched to 34 before faltering. Novak Djokovic has received criticism for supporting the Croatian football team at the football World Cup.

Louisville erases Papa John's name from stadium as sports teams flee
The University of Louisville is renaming Papa John's Cardinal Stadium effective immediately, the school announced Friday. Not only is he featured in many TV commercials, but his face is emblazoned on pizza boxes and at the center of the logo.

Exhausted Croatia train sights on France in World Cup final
England flew back to their base at Repino, just outside handsome St. Fans celebrating a Croatia goal in Post Office Bar, Dundee.

The secret meaning of Meghan Markle's olive green royal christening outfit
This evening, Meghan and Harry will attend a garden party at the British Ambassador's residence at Glencairn. Harry and Meghan will "meet the people of Dublin and visit organisations which are central to Irish life".

George Clooney involved in motorbike accident in Italy, reports say
Add George Clooney as an interest to stay up to date on the latest George Clooney news, video, and analysis from ABC News . Sardinia is a large Italian island in the Mediterranean Sea and is over 500 miles from Clooney's villa in Lake Como .

North Korea eyes second summit with US in Switzerland
Apparently, Kim admitted to having never heard the song before, which is likely what prompted Trump to make the gesture. North Korea is looking for a venue in Switzerland for a possible second summit between its leader Kim Jong Un and U.S.