What you need to know in advertising today

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Michael Seto

Comcast said Thursday that it no longer intends to pursue its acquisition of some 21st Century Fox assets, handing Disney a victory in their bidding war.

The cable provider said it would instead focus on its fight with Fox for the British broadcaster 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 of $71.3 billion in cash and stock.

To read more about Comcast dropping the bid, click here.

In related news:

Comcast’s ad chief warns the TV industry has gotten “entitled,” and it better change quickly before Silicon Valley buries it. If the TV industry doesn’t wake up and change quickly, it’s in deep trouble, said Marcien Jenckes, President, Advertising at Comcast.

In other news:

“It’s a game changer”: Google, Pinterest, Snapchat and marketers are rushing to crack the latest advertising search trend. Visual search is emerging as the latest frontier that brands are looking to conquer in a bid to connect with consumers as well as drive sales.

Facebook will start pulling down fake news that could incite violence, as Mark Zuckerberg admits “deep sense of responsibility” for Myanmar failures. It will work with external organizations to determine whether posts contain inaccurate information that may lead to social unrest. If both boxes are ticked, the posts will be pulled down.

Speaking of Facebook, people are really upset over Mark Zuckerberg’s refusal to ban Holocaust deniers from Facebook. Zuckerberg faced resounding criticism on Wednesday after saying that the social network wouldn’t ban people from Facebook for denying the Holocaust in a podcast interview with Recode’s Kara Swisher

Wall Street doesn’t think that the $5 billion EU fine will slow Google down – but one analyst says there’s another, overlooked cause for concern. Ben Schachter, senior analyst at Macquarie Research, said that Google withholds too much information and that this makes it more difficult to evaluate the company.