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Rupert Murdoch

Fox-Comcast battle to buy Sky to be settled by auction in UK

Comcast and 21st Century Fox will settle their battle for control of broadcaster Sky through a rare auction designed to put an end to months of offers and counteroffers from the American media empires seeking a foothold in the European pay TV market.

The auction will begin after the London stock market's close on Friday and end sometime Saturday evening following a maximum of three rounds of bidding, said Britain's regulator, the Takeover Panel.

Fox has long been trying to acquire the 61 percent of Sky it doesn't already own. A bidding war emerged last December, when Comcast made an offer for Fox's entertainment assets, which Disney is in the process of buying for about $71...

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