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Comcast officially withdrew its 21st Century Fox bid, leaving the way open to Disney to complete the company's acquisition. In a statement, the telecommunications giant announced that it was withdrawing its offer of $ 65 billion and was abandoning negotiations for the acquisition of Sky, another media conglomerate, but based on European territory.
the entertainment company, such as open and closed television channels, trademarks, the copyright of the characters and, above all, a nice slice of control of Hulu, one of the main rivals of Netflix in the United States. It was one of the major interests of Comcast, which already holds a 30% stake in the streaming service and, with the purchase of the remaining 30% owned by Fox, would take a majority stake of the society.
favorably followed Disney, with a bid exceeding $ 50 billion, until the giant decides to go into history, putting $ 65 billion at the table in an offer which might seem more beneficial to Fox executives. Mickey, meanwhile, has counterattacked with no less than $ 71.3 billion, an amount that Comcast no longer wants to beat.
It did not help much that a lot of Fox executives were more supportive of following with Disney even before a proposal my is favorable. The main reason for this would be the regulatory challenge represented by the acquisition, the United States government having already expressed reservations about the purchase and the possibility of creating a monopoly on different types of media [19659005]. announcement of the withdrawal of Comcast, which is now turning to the Old Continent. Sky is the largest entertainment and media group in Europe, based in London, England, and has over 21 million subscribers across the territory. The Comcast proposal for the company is $ 34 billion
As long as the subject Fox is free, that does not mean that the two giants will not meet again. On the contrary, with the difference that, now, there will be no buying dispute – by acquiring Raposa, Disney also pocketed Sky's 39% share, virtually dividing control of rival media. [19659007]
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