BSkyB shares fell sharply Monday in the wake of rival BT acquiring the rights for live broadcast of Champions League and Europa League football.
It was revealed over the weekend that BT had bought the sole rights to screen Champions League football from 2015 in a three year deal for £897 million.
Currently the rights are shared between ITV and Sky Sports. In 2015, it will mark the first time in the Champions League history that some matches have not been screened on ITV.
Shares in Sky fell by nearly 11% as trading began on Monday as Sky and ITV claimed that BT had overpaid for the coverage rights. On Tuesday, trading has seen shares in Sky begin to return to normal as they rise, currently increasing at 1.69%.
BT made a surprise entry into TV sport last year by paying £738 million for 38 live Premier League games. It subsequently launched BT Sport 1 and BT Sport 2, offering them free to BT Broadband subscribers. Jake Humphrey (pictured) was poached from the BBC as one of the main faces of BT Sport coverage.