Comcast said Wednesday that it has withdrawn its multibillion-dollar bid to buy Walt Disney after investors and Disney executives failed to embrace the acquisition.
“I’m very comfortable with our decision to withdraw the Disney offer, even though that was not our original hope going into the deal,” Comcast CEO Brian Roberts said in a conference call with investors. “The size of the transaction put so much of our company resources into the deal that some shareholders believed this was a sign that we were losing confidence in the cable business, which we have not.”
Source: News.com
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