Sky Winning U.K. Soccer Rights Sets Stage to Lift Takeover Price
February 14, 2018 | NEWS
Sky Plc is snagging more rights than ever - and paying less to boot - to broadcast Britain’s top soccer championship through 2022, a bonus for suitors 21st Century Fox Inc., Walt Disney Co. and Comcast Corp.
The European broadcaster won the bulk of the Premier League rights in an auction result announced late Tuesday but will pay 16 percent less per game, offering buyers comfort about the profit outlook of its pay-TV business. Sky, the subject of a takeover bid from Fox, rose for the first time above the offer price on speculation its minority shareholders will push for a richer deal.
“In advance, there was a lot of signaling from both parties that they were mindful of what they were willing to pay,” said Mostyn Goodwin, a partner at OC&C Strategy Consultants in London.
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