Comcast Dumps Bid for 21st Century Fox

The bid for Sky presents a quandary for Comcast as Fox owns a 39 percent stake in Sky. Both Comcast and Fox were engaged in a bidding war for Sky–Fox’s $32.5 billion bid versus Comcast’s $34 billion.

As of 1:00 p.m. ET, shares of Comcast were up 2.84% and shares of Fox edged down 1.55%.

ETFs with the heaviest weighting in Comcast were mostly mixed–Consumer Discret Sel Sect SPDR ETF (NYSEArca: XLY) was up 0.12%, iShares Evolved US Md and Entrtnmnt ETF (BATS: IEME) was down 0.44% and Communication Services Sel Sect SPDRETF (NYSEArca: XLC) was down 0.47%.

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