In a fierce battle for Fox's film and cable assets, Comcast has finally relented to Disney as the bidding war reached some $71 billion in cash and stock. Though Comcast lost this battle, they did succeed in making Disney go $20 billion higher than they would have originally, which could constrain Disney's ability for future acquisitions.
And that's key. Since attention now turns to the assets of Britain's Sky, Comcast appears to have a better balance sheet position to make their bids. Fox already owns 39% of Sky, and in their bidding war with Comcast they are valuing Sky at $32.5 billion while Comcast has valuation pegged at $34 billion.