Disney CEO Bob Iger was considering running for president in 2020, but that’s all over if Disney buys Twenty-First Century Fox‘s assets in a more than $60 billion mega-merger, CNBC’s David Faber reports.

CNBC reported Wednesday that Iger will likely remain at Disney to oversee any potential merging of the two companies. Disney would extend Iger’s contract if a deal with Fox was finalized, sources told CNBC.

“That would of course also mean Mr. Iger is abandoning his plan to potentially run for public office,” Faber said Thursday on “Squawk on the Street,” “including what has certainly been some efforts on his part to investigate the idea of running for president.”

“There’s no doubt about it. He’s been thinking about” a presidential run, Faber said.

Earlier this year, Iger had confirmed his plans to leave the company in mid-2019. There had been speculation by media outlets, including CNBC, that Iger could be considering a presidential bid.

Faber said Thursday, “We’re waiting to see if there is a filing involving his contract and an extension that would take place should this deal go forward.”

CNBC parent company Comcast is also still pursuing Fox’s assets, Faber said. But Fox sees Disney’s bid as superior, sources told CNBC.

Shares of Disney were slightly higher Thursday, after closing down 1.6 percent Wednesday.

— Reporting by CNBC’s David Faber. Writing by CNBC’s Berkeley Lovelace Jr.

Disclosure: Comcast owns CNBC parent NBCUniversal.