21st Century Fox ups bid for Sky

|By:, SA News Editor

Ratcheting up the stakes of an ongoing bidding war, Twenty-First Century Fox (NASDAQ:FOX) has secured a deal to buy Britain's Sky (OTCQX:SKYAY), valuing the company at $32.5B.

Disney (NYSE:DIS) previously agreed to a $71B takeover of Fox's entertainment assets, which includes its 39% stake in Sky, but Comcast (NASDAQ:CMCSA) is trying insert itself into both deals and has made an all-cash offer for the Fox assets.

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