Sharewatch: BSkyB Falls Despite Strong Results
BSkyB was seen under pressure yesterday, down 2.07%, despite beating market forecasts with in its final quarter customer growth, adding 133,000 new subscribers and taking its customer base to 6.8 million (see BSkyB Results Beat Market Expectations As Subs Hit 6.8m).
Some analysts attributed the drop to reports suggesting the European Commission will investigate BSkyB‘s recent deal to secure the exclusive live rights to Premiership football on grounds that it could be anti-competitive (see BSkyB And BBC Big Winners In Premiership Bidding Contest).
Meanwhile, equity markets in the US and Europe continued at a sluggish pace yesterday. Key fund managers and traders are unlikely to make substantial movements over the summer recess period.
The closing prices of media company shares on Tuesday were:
