Telefonica to pay €2.4bn for Spanish soccer and Champions League matches rights

Telefonica, Spain’s biggest telecommunications operator, agreed to pay €2.4bn for rights to Spanish soccer and Champions League matches, a move that gives the company’s pay-TV service sports telecasts its competitors already have.

Telefonica will pay Mediaproduccion for rights to the Spanish first division and two other tournaments for three seasons starting in 2016-2017, according to a regulatory filing in Madrid.

It will also broadcast the European Champions and UEFA leagues, starting immediately and continuing through the 2017-2018 season. Under the agreement, the BeIN Sports channel will be added to Telefonica’s pay-TV services, according to the filing.