Comcast is officially bidding to buy European pay-TV giant Sky

The cable giant had previously outlined a “possible” offer for Sky in February, but today has made it official, reports the Hollywood Reporter. Comcast is making an unsolicited $31 billion offer for Sky. The purchase of Sky would give Comcast a massive boost to its international footprint. However, there’s no certainty that Comcast will be able to pull off the offer. Rupert Murdoch’s 21st Century Fox has already offered to buy Sky, and Fox will now be considering whether it will increase its original offer of £10.75 ($15) per share to outmatch Comcast’s offer of £12.50 (around $17.50) a share. Then again, Sky could even have another bidder in the Walt Disney Company, which is already buying part of Sky bidder Fox and is potentially interested in expanding its international cable footprint as well.