Comcast challenges Fox with $31 billion bid for Britain's Sky

Comcast has formally offered $31 billion for Britain's Sky PLC, putting it in a showdown with Rupert Murdoch's Fox, BBC reports. "We have long believed Sky is an outstanding company and a great fit with Comcast," said Comcast chief executive Brian Roberts. "Sky has a strong business, excellent customer loyalty, and a valued brand. It is led by a terrific management team who we look forward to working with to build and grow this business."

21st Century Fox owns 39 percent of Sky, but Murdoch...

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