Walt Disney Company, which was in talks to take over the entertainment division of Rupert Murdoch’s 21st Century Fox, is closing in on a deal with Comcast dropping out of the race.

Talks of possibilities of a Disney-Fox deal have been going on for quite a while now. Comcast, which owns Universal Pictures, was also in talks with Fox to acquire the deal. However, now, with Disney re-igniting their talks with Fox, Comcast has decided to pull back. Variety shared an official statement from Comcast which reads:

When a set of assets like 21st Century Fox’s becomes available, it’s our responsibility to evaluate if there’s a strategic fit that could benefit our company and our shareholders. That’s 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. We have a terrific company with a strong portfolio of businesses and will continue to focus on driving growth, innovating, creating great content, and providing excellent experiences for our customers.

It was last month that Comcast showed their interest in buying the entertainment wing of the Fox studios, which included Fox’s movie and television studio apart from their international properties.

When Disney initially decided against going ahead with the deal with Fox, many other studios expressed their interested in the acquisition including Sony. However, it was Comcast that was being considered by the Fox studios.

As per the statement, it is clear that Comcast and Fox studios are not working towards a deal. The statement says that their discussions did not show enough progress to be able for them to make an offer. With Comcast out of the deal, and with Disney showing enough interest in the acquisition, the Disney-Fox deal seems to be certain.

Source: Variety