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Fox tops Comcast with new $32.5 billion offer for Sky

Photo by Daniel Leal-Olivas/AFP/Getty Images

21st Century Fox raised its takeover offer for British broadcaster Sky from £10.75 per share to £14 per share, putting the total deal value at $32.5 billion on Wednesday. Fox's new offer comes after Comcast bid £12.50 per share for Sky in February.

Why it matters: The revised offer is designed to guarantee that whoever buys Fox's entertainment assets also gets majority ownership of Sky, and seems to be just the latest hint that Fox prefers Disney.