The satellite TV company has 23M customers, mainly in the UK, Italy and Germany.
Comcast said it recognised that Sky News was an "invaluable part of the United Kingdom news landscape" and it meant to maintain Sky News' existing brand and culture, as well as its strong track record for "high-quality impartial news and adherence to broadcasting standards".
Comcast said it was prepared to pay £12.50 per share to buy the UK-based company, valuing Sky at £22 billion.
Britain's Sky, known for technological innovation and in 23 million European homes, has agreed already to be sold to 21 Century Fox, owned by Murdoch, but that takeover is delayed due to concerns by regulators over Rupert's influence across Britain. It is expected that Sky would form part of this deal, should the Fox bid go through.
"It's obviously a huge gauntlet that's been laid down to the Murdochs in relation to their pre-existing offer", said Alice Enders, head of research at Enders Analysis.
Sky's shares have risen 21 percent on news of the bidding war, as Comcast's proposal of $17.34 a share is much higher than Fox's offer of $14.91 a share. The independent directors of Sky are mindful of their fiduciary duties and their obligations under the U.K. Takeover Code. "A further announcement will be made as and when appropriate". Shares in Sky surged by more than 20 per cent on Tuesday morning, taking the market capitalisation of the company to around £23bn. As of 3:10 p.m. local time, 10:10 a.m.
This is not the first time Comcast and Roberts have disrupted Disney's best-laid plans. Roberts started off by explaining how the premium price tag makes the offer superior along with less regulatory hassle.
Formed in 1990, Sky has built its business by offering leading content and technology.
In fact, Comcast has already said that it does not believe that a tie-up would create any media plurality concerns in the UK. It needs the approval of regulators in London.
News Corp withdraws its bid for the 61 percent of BSkyB it does not own, in the face of widespread hostility.
Will the Comcast offer affect Disney's bid for Fox?
Why does Comcast want to buy Sky?
Roberts added that the "U.K.is and will remain a great place to do business".
"The good is that Comcast would get additional distribution for NBCU content in Europe, and some European content to distribute in the U.S.", Moffett added. Comcast is the biggest US cable-TV operator and also owns one of the largest film and television groups, NBCUniversal.
Chief Executive, Brian Roberts has illustrated his desire to enter a highly lucrative market with Sky. "The company intends to maintain Sky News' existing brand and culture, as well as its strong track record for high-quality impartial news and adherence to broadcasting standards". "We will extend our "Symphony" model in the USA, where all parts of Comcast NBCUniversal come together to support a franchise, big show, or movie, to Sky".
What issues has 21st Century Fox had with its Sky bid?
Disney is also making a bid for most of Fox's entertainment assets, including the stake in Sky, which features popular programming such as English Premier League soccer. If Comcast successfully acquires Sky, it would almost double its more than 29 million subscriber base with an additional 23 million customers in Europe.
Fox strikes a $14.6 billion deal to buy Sky to unite Murdoch's media empire across two continents and help it take on rivals like Netflix in the battle for viewers. But it bowed out, saying it never got a full chance in the process.
At the very least, Comcast has likely made it more expensive for Twenty-First Century Fox to buy all of Sky. "That's what we tried to do, and we are no longer engaged in the review of those assets".