21st Century Fox Just Raised Its Offer for Control of Sky in its Bidding War With Comcast

(LONDON) — 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 $18.58 a share as it seeks the 61% of Sky not already under its control. The company says this is 12% higher than the last bid from U.S.-based Comcast. The new bid values Sky at $32.5 billion. Fox has increased its bid by just over 30% 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. via TIME