LONDON—The same type of blind auction used to pick players in fantasy football leagues could decide the fate of Sky PLC, a media company that employs 30,000 people and has a stock-market value of $36 billion.
Comcast Corp. on Saturday is slated to bid against a team of Walt Disney Co. and 21st Century Fox Inc. in a day-long auction here that—if it goes down to the wire—will culminate in the two sides submitting secret bids to a British regulator. A winner will be disclosed later in the day.
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