Sky takeover bid to be settled by auction

The UK's Takeover Panel, in consultation with all interested parties is to determine the outcome of rival Sky bids via an auction.

Comcast, Fox and the Walt Disney Company are all interested in Sky's assets, and the auction will determine who gets them.

There are lots of angles here, starting with why the auction format has been chosen, and the auction design itself: why three rounds? Why not a Dutch auction? What is the likelihood of 'the winner's curse'?

However, there are longer-term implications for Sky customers in relation to the price that they will have to pay for access to Sky and the quality of programming that they'll receive. In relation to the former, it would seem that many analysts think that Sky's customers are likely to be paying more for Sky packages in future.