Business

Comcast Raises Offer To Buy European Broadcaster Sky

Comcast's offer could drag out a bidding war with 21st Century Fox to buy European broadcaster Sky.

Comcast Raises Offer To Buy European Broadcaster Sky
Getty Images
SMS

Comcast upped its bid for European broadcaster Sky on Wednesday, valuing it at $34 billion.

It comes on the heels of a boosted offer by 21st Century Fox earlier the same day. Fox valued the company at $32.5 billion.

Sky is a leader in pay-TV in Britain, so the company could potentially offer Fox and Comcast a way to expand viewership in Europe.

The Comcast offer may continue to draw out a bidding war between the two companies. Fox already owns a 39 percent stake of Sky.

Additional reporting by Newsy affiliate CNN.