Comcast Raises Bid For Sky To 34 Billion Tops Foxs Offer


LONDON – Comcast Corp (CMCSA.O) on Wednesday raised its offer for Britain’s Sky (SKYB.L) in a deal valuing the pay-TV group at $34 billion, topping a raised bid of $32.5 billion from Rupert Murdoch’s Twenty-First Century Fox (FOXA.O).

Comcast said its cash offer has been recommended by Sky’s independent committee of directors and that it has committed financing required for the deal.

The company said it expects to complete the acquisition before the end of October 2018, having received regulatory approvals in the EU, Austria, Germany, Italy, and Jersey.

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