Investors Shaken as TV-Sports Battle Heats Up; Eyes Turn to Premier League Rights Next
LONDON— British Sky Broadcasting Group BSY.LN +1.87% PLC's shares dropped sharply Monday as the weekend news that rival BT Group BT.A.LN +0.11% PLC won away some of BSkyB's flagship European soccer-tournament rights rattled investors.
BSkyB shares fell 10.4% to 833 pence in London trading, making them among the worst performers on the FTSE 100. ITV ITV.LN +0.65% PLC, which shares with BSkyB the current rights to the tournaments that BT secured, lost 1.6%.
Saturday, BT said it is paying £897 million ($1.43 billion) to show live UEFA Champions League and UEFA Europa League soccer matches for three seasons starting in 2015-16. That price is more than double the nearly $650 million paid for the rights package for 2012-15, according to a person familiar with the situation. The Europa League wasn't included in that bundle.




