But Fox may still face further competition from USA cable giant Comcast which submitted its own bid for Sky in February, valuing the pan European group at 12.50 pounds per share.
The company says this is 12 percent higher than the last bid from Comcast and values Sky at 24.5 billion pounds ($32.5 billion).
Tom Watson, a British Labour Party politician and opponent of Fox's bid to buy Sky, told Variety that a bidding war could be a good thing for shareholders but that it is more important to protect Sky.
Van der Sar backs Belgium for World Cup glory
Commentators seem to agree that the current young England team have been playing intelligently and with discernible teamwork. In the photo, the words have been changed to " Gareth Southgate Street", in tribute to England manager Gareth Southgate.
The 21st Century Fox logo is displayed on the side of a building in midtown Manhattan in NY, U.S., February 27, 2018.
The skirmish for control of Sky is being fought in the shadow of an even bigger battle - a struggle for control of prized entertainment assets owned by Fox, including its stake in Sky. Sky's shares closed at £15.01 on Tuesday, suggesting shareholders think the battle is not over.
Britain's former Culture Minister Matt Hancock, who was replaced Monday night with Jeremy Wright in a cabinet shakeup, had said he was willing to let the takeover go ahead, provided Fox sold Sky's 24-hour news channel to Disney. Since then, Variety reports that Disney has ramped up its efforts, countering with an unprecedented $71.3 billion deal.
"They're way behind the curve still", said Crispin Odey, founder of Odey Asset Management LLP, which owns shares of Sky.
Both Comcast and Disney have indicated that they would divest Fox's 22 regional sports networks in order to gain approval for their respective deals.
Multinational mass media corporation 21st Century Fox on Wednesday said it has raised its offer to buy United Kingdom's Sky Plc.
Murdoch had previously tried to buy Sky in 2011 when a phone hacking scandal at his News of the World tabloid sparked a political backlash over his role in Britain.
Cardi B Countersues Former Manager For $15 Million
Cardi B has filed a $15 million countersuit against her ex manager Klenord "Shaft" Raphael , TMZ is reporting . Cardi B is now one of the hottest hip-hop artists with the success of her smash hit "Bodak Yellow" past year .
Houston model bitten by shark while swimming in the Bahamas
The outlet said her boyfriend's father was taking a photo of her as she floated near the sharks when one of them attacked. Earlier this month, a woman on vacation in Dugong Bay, Australia, experienced a similar ordeal with a tawny nurse shark.
Former UCLA Star Billy Knight Found Dead After Goodbye Message
Unfortunately, Knight couldn't get the help he needed in time, and UCLA fans have to say goodbye to another athlete far too early. Knight was found by fire officials along a Phoenix roadway at approximately 2:45am, local police confirmed in a statement.
Wimbledon 2018 -- Men's quarterfinal matches
Federer ended up with more points won than Anderson in this match, but ultimately the difference came down to two unforced errors. The first hiccup surfaced at the start of the second set with Anderson breaking the Federer serve and ending that run of holds.
Named the best novel of the last 50 years
The writer has won the Booker prize for the English patient in 1992. "Few novels really deserve the praise: transformative". At that time, the public voted for Salman Rushdie's Midnight's Children , which originally won in 1981.