By John Glenday

Comcast has raised the stakes further amidst an escalating bidding war with 21st Century Fox to wrest control of Sky, by putting forward a $34bn counteroffer of its own.

The all-cash offer comfortably exceeds the revised bid of $32.5bn made by Fox, placing the ball squarely back in Rupert Murdoch’s court as the media tycoon contemplates his next move.

Unless he acts fast to raise Fox’s offer once more, the prize is likely to fall into Comcast’s hands after its latest bid was recommended by Sky’s independent committee of directors.

Murdoch had hoped to acquire Read full story ›

Source: The Drum