Speaking of its decision, Comcast said, "When a set of assets like Fox's become available, it is our responsibility to evaluate if there is a strategic fit that could benefit our company and our shareholders". But Disney could acquire Fox's film and television studios, worldwide assets like Sky and Star, Fox's cable networks including FX and National Geographic, and Fox's numerous regional sports networks.
Comcast issued a statement saying it was never able to secure the level of engagement needed to pursue a deal with Fox.
FILE PHOTO - The Twenty-First Century Fox Studios logo is seen in Los Angeles, California U.S. November 6, 2017.
With Comcast out of the running as of Monday, it's now down to settling on a price for the assets. Comcast, which owns Universal Pictures, was also in talks with Fox to acquire the deal.
Neither Disney nor Fox has commented on the impending deal.
A report from MoffattNathanson analyst Michael Nathanson estimates $2.5 billion in cost synergies for Disney and $1 billion in new deal amortization.
Shares of FOXA climbed 1.44% in morning trading to inch close to their 52-week intraday trading high.
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.