LONDON (Reuters) – BSkyB (BSY.L: Quote, Profile, Research, Stock Buzz) saw more than 1.5 billion pounds ($2.4 billion) wiped off its stock market value on Monday after Rupert Murdoch’s dominant pay-TV operator admitted it had been out-muscled at its own game with the loss of Champions League soccer rights.
Shares in the British group, which had previously seen off three major challengers to its dominance of the home movies and sports market, tumbled more than 10 percent after it suffered its first major rights auction loss to once-staid telecoms company BT (BT.L: Quote, Profile, Research, Stock Buzz).
BSkyB shares down 7.7 pct, ITV off 3 pct after BT Champs League deal. BT also off by more than 1.5 pct
Poignant evening at Reuters as some hugely experienced and much loved colleagues leave the newsroom for last time.
LONDON, Nov 7 (Reuters) – Formula One Chief Executive Bernie
Ecclestone said much of the motor sport’s value before the sale
of a major stake to private equity group CVC was down
to his running of the business.
Defending a damages claim of more than $100 million brought
by German media firm Constantin Medien over that deal,
Ecclestone told London’s High Court on Thursday that he remained
a hands-on manager at the age of 83.
Rangers FC have new acting chairman – fund manager David Somers stepping into hot seat #Rangers
LONDON (Reuters) – A multi-million dollar payment to a jailed German banker was an “insurance policy”, Formula One Chief Executive Bernie Ecclestone said on Wednesday, denying it was linked to the sale of a stake in the business to private equity firm CVC.
Billionaire Ecclestone is defending a $100 million damages claim brought by German media firm Constantin Medien who accuse him and three other defendants of deliberately undervaluing Formula One in the 2005 sale to safeguard his position as CEO.