Fox granted regulatory approval for Sky as bidding war intensifies

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. )