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21st Century Fox is sweetening its offer to U.K. regulators reviewing its takeover of Sky, raising the prospect that Walt Disney Co. would guarantee the future of the European broadcaster's news service.

Rupert Murdoch's Fox, which is in negotiations with competition authorities over its 11.7 billion pound ($16.4 billion) purchase of Sky, proposed this week a funding guarantee of at least 10 years for Sky News, the U.K.'s first 24-hour news channel. Disney would inherit that commitment with its $52.4 billion purchase of most of Fox's film and TV assets, including Sky.

The funding proposal is Fox's latest attempt to win approval for a deal that has been held up by additional scrutiny, after allegations of sexual and racial harassment at Fox News in the U.S. and as a 2011 phone-hacking scandal at Murdoch's newspapers continued to dog the billionaire media tycoon.

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