Media giants' football deal boosts shares
Investors have cheered Sky and BT after the two media giants stumped up £4.5bn to claim the broadcasting rights to dozens of Premier League football matches.
Sky was up 3% in morning trading on the London Stock Exchange, as it won the race to become the main broadcaster of live Premier League football by seizing four of the seven TV rights packages for 2019-22.
BT was also enjoying a strong session, lifting more than 1% despite securing a smaller games bundle.
The company brought the other package on offer in the auction, shifting its Saturday slot of 5.30pm to 32 games at 12.30pm.