BskyB’s Shares Fall Over 10% After BT Secures Champions’ League Deal

BskyB (BSY) and ITV were dealt a major blow as telecoms group BT (BT.A) confirmed that it had won the exclusive rights to broadcast live the UEFA Champions League and UEFA Europa League for three seasons. BSkyB was the worst hit after broker Nomura downgraded its rating for the stock from “Buy” to “Reduce”, saying that BT's willingness to overpay for the UEFA deal is “worrying for Sky and a bad sign for the next Premier League auction”.  BskyB’s shares fell by over 10% following the news.