LONDON (AP) — Media mogul Rupert Murdoch’s 21st Century Fox has increased its bid to take full control of Sky in its prolonged battle with Comcast for the lucrative pay TV service.
Fox increased Wednesday its bid to 14 pounds ($18.58) a share as it seeks the 61 percent of Sky not already under its control.
The company says this is 12 percent higher than the last bid from U.S.-based Comcast. The new bid values Sky at 24.5 billion pounds ($32.5 billion).
Fox has increased its bid by just over 30 percent since its first offer in December 2016.
Murdoch’s company still faces significant regulatory battles in Britain, including the culture secretary’s statement that Fox would have to divest itself of Sky News to win government approval because of concerns about media plurality.