Published on 5 Dec 2023 on Zacks via Yahoo Finance
Comcast's (CMCSA) Sky Sports to Broadcast More Premier Leagues
Comcast’s CMCSA Sky Sports secured the broadcasting rights for nearly a hundred additional English Premier League matches, starting 2025. This marks the first time that all matches, excluding Saturday 3 pm kickoffs, will be televised in the United Kingdom.For the seasons spanning 2025/26 to 2028/29, Sky Sports is set to broadcast a minimum of 215 live matches per season. Additionally, TNT Sports, previously known as BT Sport, will showcase 52 live matches per season within the same time frame.These lucrative broadcasting agreements are expected to generate substantial revenues of 6.7 billion pounds ($8.45 billion) over the four-year period, according to the premier league's official statement. Notably, this figure incorporates a 4% increase in the value of live rights compared with the previous rights procurement process.Sky Sports had previously paid 3.6 billion pounds in 2018 for a three-year deal, securing rights to broadcast 128 matches per season. The renewal of this deal occurred in 2021 amid the challenges posed by the pandemic, bypassing the usual tender process.Shares of CMCSA, which currently carries a Zacks Rank #2 (Buy), have risen 23.2% year to date compared with the Zacks Consumer Discretionary sector’s growth of 12.2%. This is because the company has consistently catered to the changing needs of its customers. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Comcast Corporation Price and Consensus
