It’s been exciting to watch Disney and Comcast go back and forth to out-bid each other for Fox’s assets, but alas, that time has come to an end. Comcast has finally dropped their bid, commending Fox Studios for their “desirable and respected company.” Instead of pursuing Fox, Comcast will now be switching over to purse Sky Network, a European broadcaster that is only 39% owned by Fox.
Disney’s CEO Bob Iger was “shocked” when he heard the news that Comcast was dropping out, saying he didn’t even have time to talk or negotiate with the NBC company before they pulled their bid. Meanwhile, Fox will be voting on the remaining Disney bid of 71 billion dollars on July 27th.
Disney, who already owns studios and corporations like Marvel and ESPN, is on track to acquire another huge entertainment industry, turning them into an umbrella company that owns a large portion of the television and movie market. This deal could be viewed both positively or negatively, as it gives Disney more power and control over the market, but simultaneously gives them access to the X-Men franchise that would unify the Marvel cinematic universe.
Is Disney intentionally trying to monopolize the market, or is this a good thing for more companies to come together under one name?
