Comcast increases offer for British pay-TV company Sky

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Comcast Corp.
CMCSA, +1.29%
said late Wednesday it was raising its offer for U.K.-based pay TV company Sky PLC
SKY, -0.50%
following a sweetened offer from 21st Century Fox Inc.
FOX, -3.93%
Comcast said it is now offering £14.75 for Sky, for an implied valuation of £26 billion, or $34 billion. Earlier on Wednesday, Fox offered £14 a share for the 61% of Sky shares it does not own, valuing the company at £24.5 billion, or $32.5 billion. Shares of Comcast rose 0.1% after hours, while shares of Fox declined 0.3%.

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