In a statement Comcast, a $155 billion USA cable television giant, said that its latest offer represented a premium of approximately 5.4 per cent to the 21st Century Fox offer, "implying a value of approximately..." Comcast's sweetened offer values Sky at £26 billion, or about $34 billion.
The agreed price represents an 82 percent premium to Sky's shares in December 2016, before it struck its original deal to buy Sky, and a multiple of 21 times 2017 earnings per share.
Fox's long-running pursuit for all of Sky has been plagued by United Kingdom government fears over media plurality and broadcasting standards and the influence of Australian-born USA citizen Murdoch. On Tuesday, he said he intends to announce his final decisions by tomorrow July 12.
During its review process, Comcast took the opportunity to place a $60 billion bid for Fox in May, countering Disney's previous $52.4 million offer. 21CF now anticipates that the acquisition will complete in the third quarter of 2018.
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But Disney and Fox are determined to keep their deal together - Murdoch has favored Disney in negotiations over the sale of 21st Century Fox assets, including Fox's stake in Sky, to Disney.
Brian Roberts, chief executive of Comcast, said: "We have long admired Sky, which we believe is an outstanding company and a great fit with Comcast. The enhanced scale and capabilities of the combination will enrich Sky's ability to continue on its mission for years to come, especially at a time of dynamic change in our industry".
This is sweet music to the 61% of Sky shareholders who aren't part of the Murdoch family and they will be happy with the independent directors on the Sky board.
Rupert Murdoch's company further added that Disney has provided its consent to the increased debt that would be incurred by 21CF as a result of the increased Sky offer. Wright's predecessor had previously indicated the deal could go through if Sky was ultimately sold to a third party, like Disney.