BSkyB’s shares dive after BT wins soccer rights
Shares in the British group tumbled more than 10% after it suffered its first major rights auction loss to BT. The former state telecoms group agreed to pay £900m (€1bn), more than double the previous contract with BSkyB and ITV, to add mid-week ties featuring top European teams such as Manchester United and Bayern Munich to the English Premier League matches it already shows.
For BSkyB, the loss raises the likelihood it will have to pay more for future content deals. It also leaves it suddenly looking vulnerable in a market it helped to build.
