Rupert Murdoch is trying to gatecrash Comcast’s offer for Sky with a new bid that would put the value of the U.K. broadcaster at around £25 billion ($33 billion), the Financial Times reported Tuesday.

Murdoch’s Twenty-First Century Fox is upping the stakes in the ongoing contest to acquire the European television group, offering to outspend Comcast’s latest bid of £12.50 a share. The Fox bid is expected to be pitched as soon as this week, according to the newspaper.

Shares of Sky closed at £14.68 on Monday, and analysts expect the Fox offer to beat that price, the Financial Times said. The race is part of a larger competition for media dominance between Comcast and Disney — Disney will be taking over $71 billion of Fox’s entertainment assets, which includes its 39 percent stake in Sky, and will own all of Sky if Fox wins its bid.

The U.S. media giant Comcast has made offers for both the Fox assets and Sky.

Find the Financial Times’ full story on the Comcast-Fox tussle for Sky here.

Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com.