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Saga by announcing a rare event, an auction. this is like a penalty shoot-out of the u.k. world. this was three rounds of bidding over some 26 hours. comcast emerged as the winner at $22.57. and 21st century fox was at $20.46 a share. this means that comcast is valuing sky at nearly $40 billion, which is actually far more than its current market cap of $35.6 billion. now, the reason for all this, both disney, which is in the process of buying fox and comcast, wanted to buy sky to help diversify a wave in the united states. increasingly, it is hard to grow there against online streaming. that means they have new rivals like amazon, netflix and hulu. and sky would have enabled them to do just that with a huge european network. 23 million customers as well as ....
Shareholders court. our anna stewart has more. reporter: the bidding battle for sky is finally over with comcast emerging victorious. now, it s taken 21 months, multiple bids. and at the end, the taker of the panel in the u.k., the regulator called an end to the saga by announcing a very rare event, an auction. this is something like a penalty shoot-out. this was three rounds of bidding over some 26 hours. now, comcast emerged victorious with this in a bid of 17 pounds, 28 a share. and that is equaling $22.57. compared to 21st century fox at $20.46. they are valuing sky at $40 billion which is higher than the $36.8 billion. comcast wanted to spy sky to ....