Comcast has outbid Twenty-First Century Fox for the UK’s Sky, a final step in what’s been a years-long takeover battle between the two media conglomerates.
Comcast’s final offer gives Sky a roughly $39 billion price tag.
Both companies upped their offers for Sky at the settlement auction Saturday, with Comcast offering £17.28 per Sky ordinary share and Fox offering £15.67 per share. Comcast initially offered £14.75. Fox’s original offer was £14.
Both companies will reveal their revised bids on Monday. Sky’s board will make it’s official recommendation by October 11.
Sky, which operates several brands including Sky News, Sky Sports and Sky Cinema, has 22.5 million customers in the UK, Ireland, Germany, Austria and Italy.