Illustration: Lazaro Gamio/Axios

21st Century Fox has been granted regulatory approval to purchase Sky Broadcasting Thursday, after more than a year of making concessions to regulators. The news comes just hours after Comcast increased its bid for Sky to £14.75 per share, topping 21st Century Fox's upped bid yesterday for £14 per share.

Why it matters: Now that both Fox and Comcast are in solid regulatory standing with regulators in the UK, the winner of Sky will come down to who offers the highest bid. (Regulators signaled in May that it wouldn't block Comcast's bid for Sky. )

The big picture: Comcast is taking its bidding war with Fox for Sky Broadcasting in Europe seriously in the chance that it doesn't win Fox's entertainment assets in the US over Disney because it needs access to an international Pay-TV and streaming property.

The Sky's limit: With Comcast's increased offer, Sky is now worth $34 million, more than double Fox's original offer $15 million for the majority share of the properties over a year ago. But, sources say it's unlikely that the bidding war will go too much higher.

Sky Broadcasting is unique because it reaches nearly 23 million households across five European countries. It also has a robust over-the-top streaming business — which would help its new majority owner build a streaming audience overseas.

  • Comcast only makes 9% of its revenue internationally, as of now, and most of that presumably comes from NBCUniversal's movie studio business.

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Early voting eclipses 2016 total with 12 days until election

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Americans have cast more than 47.1 million ballots in the 2020 presidential election, surpassing the total early-vote count for 2016 with 12 days left until Election Day, according to a Washington Post analysis of voting data.

Why it matters: The election is already underway, as many states have expanded early and mail-in voting options because of the coronavirus pandemic.

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Trump and Biden at the first debate. Morry Gash-Pool/Getty Image

Watch for President Trump to address Joe Biden as “the big guy” or “the chairman” at tonight's debate as a way of dramatizing the Hunter Biden emails. Hunter's former business partner Tony Bobulinski is expected to be a Trump debate guest.

The big picture: Trump's advisers universally view the first debate as a catastrophe — evidenced by a sharp plunge in Trump’s public and (more convincingly for them) private polling immediately following the debate.