GMT [Dow Jones] Astro All Asia Networks (5076.KU) may rise to 30-day moving average of MYR3.46 on expectation Asia may raise subscrption price for sports packages after The Star report says pay-TV operator wins Barclays English Premier League broadcasting rights. The Star reports, citing unnamed sources, BPL accounts for a third of Astro total content costs and is not profit-generating by itself but is a major pull for Malaysian subscribers. "Since the EPL is a major pull, people are likely to buy the shares in anticipation of a price increase, which in turn, will be earnings accretive for Astro," says dealer with local brokerage; notes Astro posted net profit of MYR62.3 million in 1H (ended July) vs loss of MYR249.9 million a year earlier. Astro may have paid around MYR800 million for EPL rights, according to The Star; Astro officials couldn't be immediately reached for comments, confirmation. Stock closed flat at MYR3.39 yesterday.
Dow Jones Newswires
October 06, 2009 20:22 ET (00:22 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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