Sending the ball back across the net, Comcast said it was upping its offer for European pay-tv giant Sky, just hours after 21st Century Fox boosted its own bid.
Comcast put forward its new proposal at an implied value of $34 billion, or £26 billion at £14.75 per share.
“Comcast has long admired Sky and believes it is an outstanding company and a great fit with Comcast,” the company said. “Today’s announcement further underscores Comcast’s belief and its commitment to owning Sky.”
Fox issued a terse, one-sentence statement this evening acknowledging the Philadelphia-based company’s bid, which topped its own $32.5 billion offer earlier in the day.
The move escalates a bidding war that’s playing out across continents. Comcast is said to be preparing a counter-attack in its long-running fight with Disney over Fox’s studio and network assets, though many analysts have increasingly argued