• Loading stock data...
Saturday, July 20, 2024
Join us this September for Tuned In Request to Attend

Comcast Could Sell Sky Deutschland at Nearly $1B Valuation

  • Comcast is reportedly considering a sale of Sky Deutschland.
  • The sale could value the unit at $998 million.
Sky
Shutterstock

Comcast is reportedly considering a sale of Sky Deutschland that could value the unit at $998 million.

When Comcast posted its third-quarter earnings on Thursday, the media giant reported that lower sales in Germany and Italy offset its gains in the U.K. — and that it took an $8.6 billion non-cash charge on Sky due to “macroeconomic conditions.”

The TV conglomerate — the largest pay-TV provider in the U.S. — acquired Sky DE in 2018 when it purchased British broadcaster Sky for $39 billion.

Sky DE’s portfolio in Germany is shrinking after DAZN recently expanded its footprint in the country. 

  • In 2019, DAZN acquired the majority of the UEFA Champions League rights in Germany, replacing Sky DE, which had “20 years of partnership with UEFA.” 
  • Last year, DAZN announced plans to roll out DAZN For Business in Germany, its global commercial premises business.

Because of the change in coverage for Sky DE, “there was a negative impact on subscriptions, a loss of possibly 200,000 or 300,000, and on the average spend by subscriber,” said Francois Godard, a media analyst at Enders Analysis.

But Godard added that Sky DE, which includes operations in Austria and Switzerland, is on a financially sustainable path due to declining costs.

Comcast Report

Comcast reported a 1.5% year-over-year decline in third-quarter revenue to $29.8 billion and a net loss of $4.6 billion. Sky posted a 14.7% year-over-year decline in third-quarter revenue to $4.3 billion, but added 320,000 subscribers.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

St. Pete Approves $1.3 Billion Rays Stadium, Ending Relocation Rumors

St. Petersburg’s city council formally approves the MLB club’s $1.3 billion stadium plan.

WBD at a Crossroads: NBA Rights Decision Could Determine Its Future

Financial analysts argue for a large-scale overhaul of the TNT Sports parent company.

Open Championship CEO Raises Alarm Over Golf’s Financial Future

The Open Championship is offering a record $17 million purse.

NBA’s Blockbuster Rights Deal Faces Uncertainty, Potential Legal Threats

League commissioner Adam Silver says many of the next steps are ‘out of my control.’
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game

0:00

Featured Today

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.

WNBA Appears Set to Extend Season to 44 Games in 2025

The Chicago Sky told season-ticket holders they ‘expect approval’ for change.
July 18, 2024

NBA’s New Money Has Josh Hart Ready to ‘Play Until My Knees Fall Off’

Hart and Jalen Brunson recently appeared on ‘Front Office Sports Today.’
July 18, 2024

Just Days to Go: NBA Media-Rights Ball Officially in TNT’s Court

TNT officially has the NBA media deals on its desk.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 17, 2024

What the WNBA’s Windfall Could Mean for Player Salaries

The WNBA could hit its first million-dollar annual salary as soon as 2026.
July 17, 2024

A ‘Seismic Shift’ for Women’s Sports: WNBA Lands $2.2 Billion Rights Deal

ESPN, Amazon, and NBC will pay the WNBA $200 million annually.
July 17, 2024

WNBA Strikes It Rich With $2 Billion In Media-Rights Deals

The WNBA’s boom came at a perfect time.
July 16, 2024

Record Soccer Viewership in U.S. Despite Copa América’s Finish

The Euro 2024 final was Fox’s most-watched non–World Cup soccer broadcast ever.