On Wednesday, Sky withdrew its recommendation of Rupert Murdoch’s contested bid for the European pay-TV group, after rival Comcast submitted a higher, $31 billion cash offer. UK-based Sky, with more than 20 million customers for its sports, entertainment and news channels across Europe, is at the center of a three-way battle. Murdoch’s Twenty-First Century Fox, Walt Disney, and Comcast have all met bids for control of the European TV group.
