Comcast CEO says price of Fox got “too high”

Comcast CEO Brian Roberts acknowledged in a conference with analysts that the company abandoned its pursuit of 21st Century Fox’s film and television assets, in direct competition with Disney, because the price was becoming “too high”.
“It was a unique opportunity,” the executive said. “We were very disciplined in our approach to it, but we thought was mostly about international expansion opportunity”, Roberts added. The executive said that Comcast dropped out of bidding war with Disney because “the price tag just got too high.”
Roberts said that now they are focus on European operator Sky, for which Comcast has submitted an offer of USD 34 billion. “We think it’s a great business. It will fit well. It’s a great use of capital.”
In June, Comcast offered USD 65 billion for Fox’s assets, surpassing Disney’s proposal of USD 52.4 billion. However, the media group responded with an offer of USD 71.3 billion. Comcast withdrew its offer on July 19.