The next, almost inevitable step in the bid for Sky in Europe has happened, with Comcast finally getting its act together to formalize its February-announced all cash bid for Sky at the £12.50 a share price it promised – valuing the entire business at $31 billion. Naturally the special committee that Sky has in place to evaluate bids has withdrawn its support for the Fox deal and will now check that everyone is happy with the terms of the deal – and that includes regulators, before recommending the new deal. It was starting to look like the fall in the share price of Comcast would frighten off its involvement in Sky and that the bid would not materialize after all.…