Fox raises Sky bid to $32.5b in battle with Comcast

LONDON: Rupert Murdoch's 21st Century Fox on Wednesday hiked its takeover offer for Sky, valuing the pan-European TV group at 24.5 billion pounds ($32.51 billion) and trumping Comcast's rival bid. 21st Century Fox's improved approach is for the 61 per cent of Sky it does not own. 21CF raised its offer to 14 pounds for each outstanding share, up substantially on a previous tilt that was pitched at 10.75 pounds.