By Austen Hufford

Breaking News

Comcast Corp. said Thursday it was dropping its pursuit for most of 21st Century Fox Inc., ending a bidding war with Walt Disney Co., but said it would continue its pursuit of European pay-TV giant Sky PLC.

In June, Disney raised its offer to purchase most of Fox for more than $71.3 billion in cash and stock, topping an unsolicited offer from Comcast.

In its deal with Fox, Disney is buying prized media assets including the Twentieth Century Fox film and TV studio; U.S. cable networks FX and regional sports channels; and Fox's one-third stake in the streaming service Hulu.

( More to Come)

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

July 19, 2018 09:05 ET (13:05 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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