Comcast stock has very little going for itself right now, and even if the Sky deal moves forward the company is unlikely to see any benefits for a long time. Investors should steer clear at least until the firm finds a way to hold on to its subscribers.

Negative headlines are currently pressuring Comcast stock, but its troubles have been a long time coming.

I get that Sky provides Disney-Fox with greater access to the European market — Sky’s pay-TV business has 23 million customers in the UK, Ireland, Austria, Italy, and Germany with 35% of those customers subscribing to TV, internet, and telephone services — but is that really worth Disney spending more than the current bid of $15 billion to keep Sky out of the hands of Comcast?