BT share price: Telecoms giant partners with Ericsson for launch of new channels

BT Group Plc (LON:BT.A)is to partner with Ericsson to help it launch the UK’ first ultra-high-definition TV channel, the Swedish firm announced today in a statement on its website. According to the statement, Ericsson has signed a multi-year deal with BT to design, build and run a range of new services for BT Sport. This includes three new BT Sport TV channels and a multi-screen, interactive red button service.

The three new channels include BT Sport Europe, free-to-air service BT Sport Showcase and BT Sport UHD, which will be the first ultra-high-definition channel in the UK. In addition, BT Sport has also extended Ericsson’s existing six-year contract for BT Sport 1 and 2 by an additional three years.
Jamie Hindhaugh, COO of BT Sport and BT TV, commented: “BT Sport’s UEFA Champions League coverage sets out to bring viewers the best ever experience of football’s leading club competition.Our 4K coverage of the UEFA Champions League alongside other competitions will bring a truly cinematic experience into fans’ living rooms.”
Meanwhile, Ericsson’s head of broadcast and media services, Thorsten Sauer, said that “We are very proud that BT has selected Ericsson to help launch” the new services. He described the partnership with BT Sport as a “significant win” for his company.
In today’s trading, BT share price was up 0.6 percent at 467.85, as of 11:26 BST. The stock has risen 16.5 percent since the start of the year, boosting the company’s market valuation to 39.2 billion.
The 18 analysts offering 12 month price targets for BT Group have a median target of 519.00p, with a high estimate of 600.00p and a low estimate of 355.00p. As of June 19, 2015, the consensus forecast amongst 23 polled investment analysts covering BT had it that the company will outperform the market. The same consensus estimate has been maintained since November 05, 2013, when the sentiment of investment analysts improved from “hold”.
As of 13:33 BST, Tuesday, 23 June, BT Group plc share price is 469.50p.