Comcast raises bid for Sky in the takeover battle with Fox 

The battle for Sky comes as Comcast is also embroiled in a takeover battle with Disney for key Fox entertainment assets that are being split off from Murdoch's empire.

Published: 12th July 2018 10:53 AM  |   Last Updated: 12th July 2018 10:53 AM   |  A+A-

Comcast

The NBC and Comcast logo are displayed on top of 30 Rockefeller Plaza in New York. (Photo | Reuters )

By PTI

NEW YORK: US media giant Comcast has raised its bid for pan-European TV group Sky , topping the latest offer from 21st Century Fox.

Comcast lifted its bid for Sky to USD 34.3 billion last yesterday, only hours after Rupert Murdoch's Fox boosted its offer for the 61 per cent of Sky it does not own. Fox' latest bid values Sky at USD 32. 4 billion.

Comcast said its sweetened offer has been accepted by Sky independent Committee directors.

"Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast," the company said in a statement released after the US stock market closed.

Today's announcement further underscores Comcast's belief and its commitment to owning Sky.

Sky's jewel in the crown is its live coverage of English Premier League soccer, while the group also provides broadband internet and telephone services.

 Also Read: 21st Century Fox raises Sky bid in battle with Comcast

The battle for Sky comes as Comcast is also embroiled in a takeover battle with Disney for key Fox entertainment assets that are being split off from Murdoch's empire.

Fox's long-running pursuit for all of Sky has been plagued by UK government fears over media plurality and broadcasting standards -- and the influence of Australian-born US citizen Murdoch.

Murdoch owns major British newspaper titles The Times and The Sun, and critics say obtaining full control also of the rolling television channel Sky News would give him too much influence in the news business.

To remedy this, Fox has proposed to sell Sky News to Disney as part of the Disney transaction.

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