Murdoch's Fox agrees 24.5 billion pound bid for Sky

FILE PHOTO: The 21st Century Fox logo is displayed outside the News Corporation building in the Manhattan borough of New York City, New York, U.S., June 15, 2018. REUTERS/Eduardo Munoz/File Photo

Thomson Reuters

LONDON (Reuters) - Rupert Murdoch's 21st Century Fox said it had secured a deal to buy Britain's Sky after it increased its offer to 24.5 billion pounds on Wednesday, gaining the upper hand in its battle with rival bidder Comcast .

Fox, which is expecting to get regulatory approval from Britain this week after striking an initial deal with Sky in December 2016, upped its offer to 14 pounds per share, from its earlier 10.75 pounds per share. Comcast had offered 12.50 pounds.

Fox said it had secured the agreement of the independent committee of Sky for the deal.

(Reporting by Kate Holton; editing by Paul Sandle)

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