Comcast Backs Away From The Mouse

Cable giant Comcast has withdrawn its hostile takeover bid for the Walt Disney Corporation after Disney’s board showed no interest in accepting the deal. A Disney-Comcast merger would have created the biggest media company in the world, but despite Disney’s recent well-documented boardroom chaos, the company spurned Comcast’s $66 billion offer immediately after it was announced in February. There is no guarantee that federal regulators would have approved the deal in any case.