Comcast has dropped its bid for 21st Century Fox, making it more likely than ever that Disney's deal to buy the same company will go through. Disney's plan to acquire 21st Century Fox would give the company immense muscle in the content and streaming worlds.

Comcast had entered the fray with a bid of its own, forcing Disney to raise its offer. Now, however, Comcast is bowing out of the bidding war before it begins in earnest.

Combined with the Justice Department's go-ahead, this latest news paves the way for Disney's $71.3 billion deal to go through as early as this month.