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Comcast-Fox Battle for Sky May Be Decided in One-Day Auction

Joe Mayes, Aaron Kirchfeld, Anousha Sakoui
Comcast-Fox Battle for Sky May Be Decided in One-Day Auction

The drawn-out battle for control of Sky Plc is likely to be settled in an abbreviated auction starting this Saturday, in a showdown to seal the fate of Europe’s biggest satellite broadcaster. An auction lasting as little as one day has emerged as the favored structure to end the 26 billion-pound ($34 billion) contest for the U.K. pay-TV company in talks between Britain’s Takeover Panel, Sky and the two bidders, 21st Century Fox Inc. and Comcast Corp., according to people familiar with the matter. The Takeover Panel’s standard procedures for an auction involve a five-day process.