Fox has a new deal to buy Sky at a higher price

21st Century Fox said Wednesday that it has reached a new deal to buy Sky that values the UK broadcaster around £24.5 billion ($ 32.5 billion).

Fox(FOX) is in a bidding war for Sky with Comcast (CCZ), which launched an offer for the UK company in April.

Fox’s new bid for Sky (SKYAY) of £14 ($ 18.60) per share is 12% higher than Comcast’s.

This is a developing story