Comcast raises bid for Sky to top Fox offer

Comcast on Wednesday hiked its bid for Britain’s Sky pay-TV group to $34 billion, topping the latest offer from Rupert Murdoch’s 21st Century Fox. The increase in Comcast’s all-cash offer came less than a day after Fox raised its offer to $32.5 billion, a 12 percent premium over Comcast’s previous offer. Fox has been trying to buy the 61 percent of Sky it doesn’t already own since December 2016. The battle over Sky is part of a larger industry scrum to pair content and distribution resources to compete with streaming video giants Netflix and Amazon.

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