What’s gone wrong at Sky?

Since Comcast takeover, broadcaster has slashed jobs and is losing the exclusive shows that drew subscribers

Sky now has the exclusive right to air hit HBO shows such as The White Lotus, but will lose it from April 2026. Photograph: HBO

When the boss of the media multinational Comcast was putting together an ultimately eye-watering £31bn (€37bn) bid for Sky, he recounted how a chat with a London cab driver reinforced his opinion that he was in pursuit of a crown jewel of UK broadcasting.

Brian Roberts’s plan was to use Sky to build an international powerhouse outside the US – after being beaten by Disney in the battle to acquire his prime target, Rupert Murdoch’s 21st Century Fox – but some analysts and industry figures wonder if he has been taken for a very expensive ride.