The share price of BSkyB has taken a hit today (November 11th) after the company lost the rights to show Champions League football to rival BT Sport.
Sky Sports has been the industry leader for at least a decade, but the firm is facing growing competition from BT, which is showing Premier League football for the first time this season.
BT Sport announced over the weekend that it had agreed a deal worth almost £300 million a year to show European football, with both ITV and Sky missing out on the rights.
At 11:41 GMT, the share price of BSkyB was down by almost ten per cent, with stocks in the firm dropping to 840.5. The company's 52-week low stands at 742.5.
ITV's share price is also down today, but the firm has not been affected as much as BSkyB. At 11:41 GMT, its stocks were trading 1.47 per cent lower than at the start of the day.
While ITV shows one live game each Champions League week, Sky Sports has the rights for the rest and viewers can select which match to watch through the red button.
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