The offer is a revision of "remedies" submitted by Fox in a bid to smooth the completion of its £11.7bn takeover of Sky, which is still under review by the Competition and Markets Authority.
In a bid to alleviate the CMA's concerns, Fox has recommended either a legal separation and ringfencing of Sky News or selling the news outlet to Disney.
21st Century Fox has given the U.K. Competition and Markets Authority (CMA) two new proposals created to address the regulator's concerns regarding the planned takeover of British broadcaster Sky.
Rupert Murdoch-backed Fox's £11.7bn (US$15bn) takeover of Sky faltered again earlier this year after United Kingdom regulator the Competition and Markets Authority (CMA) found the deal was not in the public interest.
New York-listed entertainment titan Fox has already bid £11.4-billion for the 61% of Sky it does not already own but in Britain concerns linger over the strengthening influence of Australian-born United States tycoon Murdoch.
The Fox bid, pitched at £10.75 per Sky share, is significantly lower than the Comcast offer of £12.50.
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Mr Murdoch's family already have extensive media holdings, including stakes in newspapers such as The Sun and The Times.
"The big thing we still don't know is what Comcast are going to do about their potential offer for Sky, which in the short term at least has created a market in Sky shares which is far above the price that 21st Century Fox has offered", he explained.
A second offer is to turn Sky News separate legal entity with its own independent board and editorial independence that is continued to be owned by Sky but with funding guaranteed for 15 years. "These enhanced remedies went above and beyond what Ofcom, the expert, independent regulator on United Kingdom broadcasting, had stated would mitigate concerns around media plurality", Fox said in a statement.
"We are aware that a group of politicians that is opposed to the transaction is seeking to influence the CMA and is making a number of unsupported and fanciful assertions".
Fox bid two years ago for the 61 per cent of Sky it does not already own, following a failed earlier takeover attempt. However, this offer is now competing with a proposal from the U.S. cable operator Comcast who put on the table in late February 12.50 pounds per share to take possession of Sky.
Fox stressed on Tuesday that Disney would in any case purchase Sky News even if it didn't buy Murdoch's group.