The Walt Disney Company's $71.3 billion offer for 21st Century Fox looks poised to go through. That's because telecom behemoth Comcast Corporation has pulled out of its bidding war with Disney for control of Fox.  

CNBC, which is itself owned by Comcast, first reported the news today. The report indicates that Comcast's decision is in part so that it can refocus on its acquisition attempts of UK telecom company Sky, which Fox itself has been competing with Comcast to acquire. Fox already owns 39 percent of Sky and has offered $32.5 billion for the other 61, while Comcast has recently bid $34 billion for that same stake.