Singtel yesterday announced that it has won the EPL (English Premier League) to all matches for the next three seasons starting from Aug next year. However, it is unclear if these rights were won on an exclusive basis; because if it is, then the current MDA ruling would require Pay TV operators to share exclusive content. According to a report in today‟s Straits Times, Singtel did not confirm the exclusivity as “the contract has not been fully finalized”.

We understand that StarHub has also put in a bid but was not successful; and in the same ST report, StarHub mentioned that it understands that these rights are exclusive. We will be seeking greater clarity from both parties on this issue. For now, we have BUYs on both Singtel and StarHub.

Source: OCBC Research - 11 Nov 2015