Sky news update: Sky are currently topping the FTSE top fallers lists as stocks fall and there may be potential problems in gaining Champions League rights.
Earlier this year BT had to pay huge amounts of money to compete with Sky, who are the dominant sport broadcaster in the UK, for Premier League rights. They now feel they will not recover from the £450 million set back in time to battle again against Sky for Champions League rights as well. Though they have been considering the damage it could do to Sky if they do try and compete.
BT’s shares have recently slid by 21.5 (2.3pc) to 928.5p after specialist analysts have warned that they will have ‘fierce’ competition during the up and coming bidding process for Champions League rights with Sky. The price estimated Sky will pay will rise by 70pc and would effect the companies 2016 earnings by 4pc. BT currently have little mid-week content being broadcast to it audience.
Sky is therefore worried that BT will do whatever they can to gain control of as many games as possible. For Sky, this is worrying as the ideal outcome would be to secure the rights at the same rate as last year however it now looks like they will have to pay a lot more to maintain their current dominance.
Macquarie also delivered a downbeat assessment of Sky very recently. This in turn has lead to Sky being the biggest faller in the FTSE Top 100. This will all have an effect when it comes to bidding for the Champions League rights and could potentially benefit BT.
The rivalry between Sky and BT started earlier this year when competing for the rights to broadcast the Premier League. Sky has had these rights for the past decade but with the launch of BT Sport they have been challenged for the first time.
This led to increased prices and BT paying a lot more than intended for some of the best Premier League games this season. However it is the dominant force of the past ten years which emerged victorious earning the rights to 168 Premier League games and 72 of the lower league games from the Championship, League One and League Two. BT despite being set back are now determined to out do Sky in achieving Champions League rates yet if they will succeed is still yet to be seen.
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