The expected bidding war for Sky heated up late on Wednesday (July 11) as Comcast made a new £14.75 a share bid for the European pay TV giant.
The bid, which gives Sky an implied value of $34bn (£26bn), topped the £14 a share bid made by 21st Century Fox earlier in the day.
Sky’s independent directors, which had approved the Fox bid at the start of the day, gave their support to the new Comcast offer.
”The Independent Committee welcomes this increased offer which representsan attractive premium for Sky shareholders,” said Sky deputy chairman Martin Gilbert in a statement. ”We have long recognised the unique position that Sky occupies in the European direct-to-consumer landscape and unanimously recommend this offer by Comcast.”
In its own statement, Comcast said it “has long admired Sky and believes it is an outstanding company and a great fit with Comcast.”
The UK governent is expected to give its final ruling on a Fox takeover of the 61% of Sky the Murdoch family company does not already own on Thursday.