The owner of CNBC and Universal Pictures, Comcast, has made an offer valued at £22.1 billion for UK broadcaster Sky.

The offer is £12.50 per share, which is 16% higher than Rupert Murdoch's 21st Century Fox's bid of £10.75 per share.

It said the move would create a "leading content and distribution business in the UK and Europe".

Comcast chairman and chief executive Brian Roberts said Sky is "an outstanding company".

"We intend to maintain and enhance Sky's business," he added.