Sky Share Prices Plummet After Colossal £5.14bn Premier League TV Deal

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Sky and BT agree a combined £5.136bn…

Sky share prices took a 4% decrease on Wednesday morning following a stunning move by the British broadcasting company to agree a £4.2bn fee for five out of seven offered Premier League TV packages.

The auction on Tuesday saw Sky acquire the maximum fixtures available to a single telecommunications company – but it came at a huge price – with an 83% increase on the previous deal.

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Premier League Announce Record £5.136bn TV Deal: Live Broadcast Rights For Sky And BT In Big Money Auction

Financial analysts, such as Claudio Aspesi, a senior Senior Research Analyst at Bernstein, are dubious over the spending by Sky, in which Aspesi claimed the flight of such value increase is “unsustainable”, reports the Financial Times.

Nonetheless, while Sky’s share price dropped 4% 9am Wednesday morning, BT’s has risen 3.5%.

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