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Comcast Raises Its Offer for Sky to $34B

Daniel Liberto

Comcast Corp. ( CMCSA) has escalated a bidding war with Twenty-First Century Fox Inc. ( FOX) by raising its offer to buy Sky Plc to $34 billion. The company said in a press release that its increased superior cash offer has been recommended by the Sky Independent Committee of Directors, and it has received relevant regulatory approvals in the EU, Austria, Germany, Italy and Jersey. "Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast.