Comcast drops its $65 billion bid for 21st Century Fox
US broadcasting giant Comcast has formally withdrawn its $65-billion bid to acquire most of media conglomerate 21st Century Fox. Comcast's bid was a premium of approximately 19% to the value of Disney's $52.4 billion all-stock offer for same set of assets. The company said it will focus on acquiring UK-based media giant Sky, for which it has offered $34 billion. 