Comcast Has Officially Backed Out Of The Fox Deal, Conceding To Disney

The news many fans of the MCU have hoped for finally came today as Comcast has officially backed out of their bid for Fox. Today the chairman and CEO of Comcast, Brian L. Roberts, has announced that Comcast would no longer pursue their bid for Fox. The Chairman also congratulated Disney and Bob Iger on their future acquisition of 21st Century Fox.

Roberts had this to say in their announcement,

“I’d like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company.”

However they will still pursue the telecommunications company Sky,

“Comcast does not intend to pursue further the acquisition of the Twenty-First Century Fox assets and, instead, will focus on our recommended offer for Sky.”

With this concession from Comcast, the last step that must be taken for Disney to acquire Fox is approval from the company’s shareholders. The deal was already approved by the Department of Justice on the condition that Disney sells Fox’s regional sports network. Fox shareholders will hold a vote on July 27th but given Disney’s increased bid of $71.3 billion in stock and cash approval seems very likely.

As of now, we are unsure of when the deal will be finalized since it was previously reported it would complete by next Summer. But given the DOJ has already approved it could be sooner. But thankfully what matters most is that the X-Men and Fantastic Four will finally be coming home to the Marvel universe. So as more updates come in for the Disney-Fox deal, stay tuned to SuperBroMovies.

Are you excited to hear Comcast has conceded? Let us know at SuperBroMovies on Twitter what you think! – Jacob Campbell

Source: CNBC

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