Spain’s Telefonica wins La Liga rights for €2.9bn

Mobile phone firm Telefonica outbid its main rival Mediapro for the bulk of broadcast rights to Spain’s top soccer league, paying €2.9 billion for three seasons.

The deal gives Telefonica direct control over La Liga matches starting in 2019, putting an end to a wholesale arrangement with Mediapro. The total auction proceeds of €3.4bn compare with a combined €2.95bn that Mediapro, Telefonica, and others offered for the prior three years.