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said Thursday that it won't be bidding for the entertainment assets of media giant




In a press release, the cable company said "it does not intend to bid for the Vivendi Universal Entertainment assets," without providing further details.

Comcast shares rose 16 cents, or 0.6%, to $28.76 in morning trading, while Vivendi fell 21 cents, or 1.2%, to $17.05.

Vivendi is said to be seeking a $14 billion offer for the unit, which includes the Sci-Fi Channel, Trio cable networks, Universal Pictures, Universal Television and the USA Network.

Comcast was reportedly interested in creating a joint venture with Vivendi before pulling out of the running.

The cable operator isn't the first company to drop out of the race for the assets. So far,

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have declined to pursue the acquisition, leaving

General Electric





and Edgar Bronfman Jr. as potential bidders.