Comcast announced the end of its bid to acquire Fox’s film and television assets and will instead compete with Fox for a controlling stake in European broadcaster Sky.
A number of major media players with sports broadcast rights are playing a game of musical chairs with billions of dollars and pounds on the line. After a federal judge permitted AT&T to proceed with its takeover of Time Warner last month, Comcast had made a major offer to acquire the Fox properties—which include a number of regional sports networks—that Disney was on the verge of acquiring.
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