Build Fiber? Sell Mobile? Comcast Faces Some Big Choices on Sky

Now that Comcast Corp. has won the battle for Sky Plc, Chief Executive Officer Brian Roberts faces a pressing question: What does he do with Europe’s biggest satellite pay-TV company?

Buying Sky gives Roberts the power to disrupt the continent’s media and telecom landscape, whether it’s in sports rights, broadband delivery and mobile services or original content. Rupert Murdoch’s 21st Century Fox Inc. conceded defeat to the biggest U.S. cable carrier on Wednesday in their $39 billion contest for Sky, clearing the way for Roberts to take full control of the London-based company.