Fox has upped its bid for Sky to $32 billion.
Fox reportedly upped its offering for Sky to $32 billion in the latest move in its bidding war with Comcast.
The offer follows Comcast's $31 billion bid in April, when it faced off with Rupert Murdoch's 21st Century Fox for control of Britain's biggest pay-TV company.
Sky shares fell by up to 2 percent in early trading Wednesday, Bloomberg reports, since some investors expected Fox to make a higher offer.
Sky is already 39.14 percent-owned by Fox, but the effort to secure the remainder is part of a wider battle between Comcast and Disney -- which is drawing closer to taking over Fox -- over full control of Murdoch's media empire.
Neither Fox nor Sky immediately responded to requests for comment.
