With $39 Billion Bid, Comcast Beats Out Fox in Auction for Control of Sky

Both companies had been pursuing 61% stake in the European media giant

Comcast's $39 billion bid for 61 percent of Sky handily beat Fox’s $32 billion offer. Getty Images

Twenty-one months after 21st Century Fox first began trying to buy the remaining 61 percent stake in European media giant Sky that it didn’t already own, the company has lost an auction with Comcast for control of Sky.

@jasonlynch jason.lynch@adweek.com Jason Lynch is TV Editor at Adweek, overseeing trends, technology, personalities and programming across broadcast, cable and streaming video.