Comcast said it is no longer looking to buy 21st Century Fox's assets, in yet another sign that a deal between Fox and Disney is nearing completion.

Comcast-owned CNBC first reported the cable giant's interest in the block of assets, specifically Fox's 39pc stake in Sky, its film studio and a significant portion of its TV assets, early last month, just weeks after it emerged that Disney had been in talks with Fox over the same assets. 

At the time, talks between Rupert Murdoch-owned Fox and Disney had ended, but they have since revived and recent weeks have seen Disney pull ahead as the most likely purchaser.

According to reports last week, Disney had offered Fox shareholders up to $60bn (£45bn) worth of its shares for the assets. 

It is thought the two parties are still in talks, though rumours suggest a deal could be announced in the next few days.

Addressing employee unease in a 21st Century Fox staff memo last week, the Murdoch family said: “While we can’t comment on market speculation, we do want to address the impact we know this is having on all of you. Uncertainty always breeds unease. In every way, our focus is on our businesses and on the welfare of all our colleagues.”

On exiting from the bidding process, Comcast said: “When a set of assets like 21st Century Fox’s becomes available, it’s our responsibility to evaluate if there’s a strategic fit that could benefit our company and our shareholders.   

"That’s what we tried to do and we are no longer engaged in the review of those assets. We never got the level of engagement needed to make a definitive offer."

Shares in 21st Century Fox were down 1.07pc on the news in after hours trading. 

Disney did not immediately respond to requests for comment. 21st Century Fox declined to comment.