Today, Brian L. Roberts, Chairman and CEO of Comcast, has announced that Comcast would no longer pursue their bid for Fox and congratulated Disney and Bob Iger on their future acquisition of 21st Century Fox.

I’d like to congratulate Bob Iger and the team at Disney and commend the Murdoch family and Fox for creating such a desirable and respected company.

They will instead be pursuing the telecommunications company Sky.

Comcast does not intend to pursue further the acquisition of the Twenty-First Century Fox assets and, instead, will focus on our recommended offer for Sky.

Now that Comcast is no longer a factor, the last step that will need to be taken by Disney to complete this acquisition is the approval of Fox shareholders, who will be holding a vote on July 27th. With Disney’s increased bid of $71.3 billion in stock and cash and already having approval from the Department of Justice, there’s no real reason for them to say no.

What is up in the air is how soon the Fox deal should be finalized, since it was earlier reported that it would be done by next Summer. But, since the Department of Justice has already approved of the acquisition (on the condition that Disney would have to sell off Fox’s regional sports networks), it’s unknown how soon Marvel Studios will officially own the X-Men and Fantastic Four again, but it should be much sooner than anticipated.

Source: CNBC