Comcast is dropping out of the race to acquire some of 21st Century Fox's assets

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Brian Roberts, chief executive officer of Comcast

Comcast said Thursday that it no longer intended to pursue its acquisition of 21st Century Fox assets.

The company said it would instead focus on its offer for Sky.

Comcast had entered a bidding war with Disney for some of 21st Century Fox's assets excluding the Fox News and Fox Business Channels. Disney raised its offer on June 20 for the assets to $38 a share, or a total fo $71.3 billion in cash and stock.

This story is developing.