Comcast issued an announcement on the 19th，The company will no longer make acquisition bids for Fox assets，In the future, attention will be shifted to the merger and acquisition transaction of British pay TV operator Sky。

According to informed sources，Comcast made this decision for two reasons，188bet app

After Disney raised the price of acquiring Fox to US$71.3 billion，Comcast CEO Brian Roberts said at the shareholder meeting，He wants Fox assets and plans to make a higher offer than Disney。As 21st Century Fox holds its shareholders meeting on July 27，Date to discuss Disney’s new offer approaches，Comcast announced at this time that it will no longer bid for Fox，Disney will undoubtedly become the final winner of this bidding war。

As the largest cable network operator in the United States，Comcast had previously considered reaching a cooperation agreement with multiple private equity institutions to compete with Disney to acquire Fox assets。If you want to get the consent of the Fox family, the largest shareholder of 21st Century Fox，Comcast must increase price again on top of its previous $65 billion all-cash offer。Although most people's previous view is that Roberts is trying to get Fox assets，But some people in the industry who are familiar with his way of thinking believe that，Roberts is open to splitting up Fox assets。

Although Comcast made a commitment to the Fox family and Fox shareholders in the formal offer document，If 21st Century Fox chooses 188bet app Comcast to acquire Fox assets and fails to obtain regulatory approval，Comcast will pay Fox $2.5 billion like Disney，But the Murdoch family is still worried about possible judicial supervision of Comcast。

Disney CEO Bob Iger said，According to the previous agreement with Fox，Disney cannot have any conversations with Comcast at this time。In view of the rising debt pressure and the Murdoch family's own attitude towards supporting Disney has not changed，Comcast’s decision not to bid for Fox was also expected by many Wall Street analysts。

As previous bidding wars intensified，Fox stock price has risen approximately 27% in the past month，The stock price in the past week has begun to show a stable and slightly downward trend。In comparison，Comcast’s stock price has fallen by 17% this year，The stock price has increased slightly recently。

In fact，Comcast announces it is withdrawing from the war，There is a reason why a higher offer was not made。The huge debt pressure is the first factor to consider。BTIG analyst Richard Greenfield said，If Comcast increases the purchase price of Fox stock price，Then its offer price is $47 per share。Disney’s current offer for Fox stock is $38 per share，This kind of quotation is more beneficial to the Murdoch family or other long-term shareholders in terms of tax payment。But Greenfiled thinks，The all-cash acquisition of Fox and the cash offer of 15 pounds per share for Sky will bring debt pressure to Comcast five times the revenue，Although the synergies between the two companies after the acquisition can reduce the ratio of revenue to debt to four times by reducing costs and promoting growth。

Disney for half cash、After half-equity deal increases Fox acquisition price to $71.3 billion，International credit rating agency Moody’s has threatened to lower Comcast’s credit rating，A glimpse of Comcast’s debt pressure。

As assessed by Moody’s Investors Service，Comcast’s current $65 billion cash acquisition plan for Fox，Plus potential funding required to acquire British sports broadcaster Sky，These two major transactions 188bet sports betting app download are expected to push Comcast’s debt to $170 billion。

As Comcast announcement says，Stop the bidding war so the company can focus on another deal with Fox to acquire Sky。If Fox’s film and television resources and television networks complement Comcast’s existing Universal Pictures and NBC television assets，But Sky, with 23 million subscribers worldwide, can complement Comcast’s shortcomings in global influence。

Go further，Even if Fox finally accepts Disney’s acquisition price，Comcast is also a winner in a way。This is because，Disney’s debt pressure will be very high after acquiring Fox，Competing with Comcast in sports programming and other areas will be difficult in the future。

On the other hand,Even though Comcast has now announced it is withdrawing from the bidding，But this does not mean that the company has not made attempts to join forces with other buyers to acquire Fox。

Comcast had been trying to unite private equity institutions and strategic investors to acquire most of the assets of 21st Century Fox before it announced it would stop bidding。There is news，Comcast has discussed cooperation with Amazon，But sources revealed that the two sides terminated negotiations last year。

Also，The Department of Justice recently approved Disney’s acquisition of other Fox assets on the condition that Disney agree not to acquire 22 regional sports television networks。John Malone, the majority shareholder of Charter Communications, once said，Company interested in acquiring these regional sports networks，Telecommunications giant AT which already owns some regional sports networks&T may also be a potential buyer of this asset.Given that 22 regional sports networks are worth up to $10 billion，Comcast may also have been in contact with some companies interested in this part of Fox’s high-quality assets。

Roberts said，Fox's film and television studio、Assets such as cable television network and international business can help Comcast increase its international influence，It also complements the company’s other assets。However，Even if the bidding fails，Comcast still has 188bet online sports betting many potential acquisition targets。

In terms of film and television companies，The smaller Lionsgate Pictures has always been considered a good acquisition target。After stopping bidding with Disney，Comcast can focus more on acquiring the remaining stake in Sky, which Fox already holds 39% of the shares。Also，Comcast can also try to increase its wireless network business by acquiring telecommunications company Verizon，Even in the context of the Trump administration being more supportive of cable TV mergers than regulators，Comcast may consider acquiring Tex Communications。

Quiting the bidding war does not mean getting nothing，Comcast still has opportunities to acquire other high-quality assets。Walt Disney CEO Iger once told investors，Disney has reached an agreement with Fox to split some assets，This view is recognized by many analysts。An analyst pointed out，In order to reduce the debt pressure caused by the acquisition of Fox，Both parties may acquire assets that are important to their respective strategic layouts，Disney acquires Fox’s US domestic assets，Comcast may acquire some international assets。

Neil Begley, Senior Vice President of Moody’s Ratings Agency，The best outcome for bondholders of the three companies is Comcast acquiring Sky broadcaster。“Split asset acquisition is the most ideal result，" Begley said in a research announcement。

For Comcast，The acquisition of Sky, which has 23 million users in five European countries, will diversify the company's overseas layout、Provides a rare opportunity to directly reach more consumers。But this transaction process also has great challenges。Although the UK government has made an offer to acquire Sky through Comcast，However, the British Mergers and Acquisitions Committee may still set the lowest price for both parties to win the bid on behalf of Sky shareholders to truthfully reflect the value of the assets。

To take a step back, that isFailed to acquire Sky，Comcast may seek other film and television companies such as Sony Pictures Entertainment。

After Comcast gave up the bid，Its stock price may decrease due to debt pressure，The stock 188bet sports betting app download price is slowly recovering to where it was before it fell 17% this year。After Comcast announced it would abandon the bid，The 3% increase in the stock price after the close of the day is a good proof。

Cowen & Co.,Analyst Gregory William said in a research note，Comcast needs to convince investors that acquiring Sky is a good choice，Comcast shareholders may be more inclined to buy back shares or hope that the company will invest and acquire in the wireless network field。

Disney recently said，21st Century Fox may choose not to raise its bid for British broadcaster Sky。After Disney revealed the news，Industry insiders believe that the bidding war between Disney and Comcast may result in something for everyone，Comcast may take control of British pay-TV operator Sky，And Disney will get most of Fox’s media assets。

According to Disney’s submission to the Securities Regulatory Commission last Friday，It seems unlikely that Fox will raise the price again to acquire Sky。Disney says in the materials，Fox “can choose not to raise the price to acquire Sky，However, any additional debt financing required during the acquisition of Sky must be approved by Disney，And Disney may choose not to provide any debt financing to Fox。”

Always，Fox and Comcast both want to acquire the remaining 61% of Sky，Comcast’s Sky acquisition price rises to £26 billion ($34 billion)，The latest Fox offer values ​​Sky overall at £24.5 billion ($32.2 billion)。Fox, which is at a price disadvantage, may make another offer，However, Disney’s above statement obviously does not support Fox’s acquisition of Sky。Recent ruling of the UK Takeovers Commission，If Disney’s acquisition of Fox is finally approved，And the Sky acquisition deal has not yet closed，Then the company will also acquire Sky at Fox’s previous price of 14 pounds per share 。

Comcast announces it will no longer make an offer to acquire Fox assets，The final result of this bidding war that lasted for more than half a year will be that Disney acquires Fox’s domestic assets，And Comcast may gain control of UK pay-TV operator Sky。

Interesting 188bet Online Sports Betting and Casino thing，Comcast holds a 30% stake in the streaming media platform Hulu from the Fox assets acquired by Disney，Even if Comcast successfully acquires Sky ，Disney still owns Fox’s 31% stake in Sky。After many bidding wars between the two giants，Will they help each other and sell their equity to each other?？