News Summary: BSkyB hit by soccer rights loss

News Summary: BSkyB hit by loss of live European Champions League soccer TV rights

Associated Press

SOCCER RIGHTS: Shares in British Sky Broadcasting PLC fell almost 11 percent Monday after rival BT PLC snatched the U.K. television rights to European Champions League soccer, Europe's top club competition.

BIG BLOW: Soccer rights are one of the main reasons why the broadcaster has seen its subscriber base rise to around 10 million.

MORE PRESSURE: Investors are worried BSkyB, whose biggest shareholder is Rupert Murdoch's 21st Century Fox Inc., one of the two units created following the split of News Corp., will face additional financial pressures to maintain its array of sports rights and that some subscribers may switch to BT.

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