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Betting On BSkyB Share Price: Is Murdoch's Empire On The Slide?

Fortuitously for the Murdoch's the news has been overwhelmed this weekend with the massacre in Norway and the premature death of Amy Winehouse. For the past few weeks the phonehacking scandal at The News Of The World has dominated red tops and broad sheets alike, the lightweights interested in the impact of the unravelling debacle on the likes of Rebekah Wade and Andy Coulson and the heavyweights dissecting the impact on the police, the government and the future of BSkyB. This last issue is one that is of course intersting the city boys who are watching the share price with great interest. Paddy Power, ever seeking new markets is offering a gambleon BSky B's share price by the year's end.

Before the scandal Murdoch's News Corporation had made an £8m bid to takeover BSkyB and despite much rancour from the anti competitive sectors, it looked like Murdoch was to further increase his stranglehoold of the British media. The original dissenters were given such ammunition as the phone hacking stories grew and grew that Murdoch himself abandoned his manoeuvre, with BskyB stating that they would now be looking for alternative investors. In fact such is the outcry that News Corp's current 39% stake in BSkyB could also still be at risk from the "fit and proper" test for ownership being conducted by regulator Ofcom.

The question is, what effect will this have on the price of BskyB shares? In May when the future loooked crystal clear the share price hit a high of 850p, but in the first week of July dropped below 700p before rallying slightly just below 750p. For this reason it is unsurprising that Paddy Power offer odds of 15/8 that at the year's end the price will lay between 701p and 800p. There is obviously a sense that whilst there is sure to be some damage over the chaos of the summer, that BSkyB is a sound enough investment for it to maintain its strength in the market and rally to close to its high at the beginning of the year.

There is an argument that would suggest that the tendrils of the scandal have not been entirely excavated from BSkyB so its price could plummet, but similarily commentators have also suggested that without News Corporation as bedfellows they can be more transparent and subsequently more attractive to investors. This is a tricky gamble but an interesting one and its interesting that Paddy Power now feel it is a realm that they can inhabit.

BSkyB Share Price Odds

Odds plus a host of Novelty Betting Opportunities courtesy of Paddy Power

Less than 500p 16/1
500 to 600p 7/1
601 to 700p 7/1
701 to 800p 15/8
801 to 900p 13/8
901 to 1000p 7/2
1001 to 1100p 8/1
More than 1100p 7/1

Posted: Tuesday, 26th July 2011
Author: Suzi Flute
Tags: current affairs, rebekah brooks, andy coulson, news corporation, paddypower,

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