US cable giant Comcast has dropped plans to bid for Rupert Murdoch’s 21st Century Fox assets, with plans to focus solely on a £26bn takeover of UK broadcaster Sky.

In a statement released today, Comcast said it “does not intend to pursue” the acquisition of Fox assets which it has already agreed to sell to Walt Disney and will instead “focus on our recommended offer for Sky“.

Disney had raised its offer for Fox assets to $71bn (£54.7bn), outbidding Comcast’s $65bn (£50bn) bid.