Comcast drops bid for Fox assets, leaving Disney in pole position

Disney-Fox deal would be a media and entertainment earthquake

A mega deal between Disney and Fox will be announced on Thursday, according to a new report on CNBC.

While the exact portfolio of assets changing hands remains unknown, it appears that the Murdoch family will be left with only Fox Broadcasting and its local TV stations, cable giant Fox News and Fox Sports 1 and 2, cable networks launched in 2013.

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The company explained that they had attempted to review the benefits and were no longer "engaged" in doing so.

"We never got the level of engagement needed to make a definitive offer", Comcast said in a statement. However, the biggest of these has undoubtedly been Comcast and Disney.

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Walt Disney Co (NYSE:DIS) has plans underway to acquire a huge of a part of the 21 Century Fox as part of the strategy to transform the firm into an effective direct-to-consumer digital powerhouse to compete with Netflix.

It would see Disney add 20th Century Fox, home to the Avatar and X-Men film franchises, to its own studio, as well as worldwide pay-television brands from Sky in the United Kingdom to Star in India, regional U.S. sports networks and Fox's stake in the Hulu digital streaming service. Shares of Disney were up 0.44% in early morning trading to just over $107, while shares of Fox rose.33% to $33.37. With Comcast out of the deal, and with Disney showing enough interest in the acquisition, the Disney-Fox deal seems to be certain. If you don't buy now, you may kick yourself in 2020. Today, you can download 7 Best Stocks for the Next 30 Days.

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