Comcast Challenges Murdoch on Sky Bid

Comcast Challenges Murdoch on Sky Bid

LONDON (AP) -- U.S. media conglomerate Comcast has made a 22 billion pound ($30 billion) bid for London-based pay TV operator Sky in move that threatens a rival bid by Rupert Murdoch.

Comcast CEO Brian Roberts says his company's cash offer values each Sky share at 12.50 pounds, above the 21st Century Fox offer of 10.75 pounds.

21st Century Fox issued a statement saying it remains committed to its offer and is "currently considering its options."

21st Century Fox has offered to insulate Sky's news operations from the influence of Murdoch and his family, who already own several other media titles in the U.K., to win approval of its bid.

Comcast committed to maintain funding for 10 years for Sky News.