Comcast drops bid for 21st Century Fox assets

Comcast pulled out of the running to buy a majority of 21st Century Fox.

Comcast's decision, announced yesterday, clears the path for Disney to buy the stake if it chooses to do so.

"When a set of assets like Fox's becomes available, it is our responsibility to evaluate if there is a strategic fit that could benefit our company and our shareholders. That is what we tried to do and we are no longer engaged in the review of those assets. We never got the level of engagement needed to make a definitive offer," Comcast officials said in a statement.

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