KUALA LUMPUR: Astro Malaysia Holdings Bhd's earnings are
not expected to be significantly impacted following the winning of the broadcasting rights to Barclays Premier League (BPL).

In a note today, MIDF Research Sdn Bhd said the estimated content cost as a percentage of revenue will increase by one-two percentage points in financial year 2014 from the current 32 per cent.

"The impact to Astro will also be positive as it will limit the churn rate of its subscribers," it said.

MIDF Research said the winning bid for BPL for the next three seasons starting from season 2013-2014 should remove a lot of uncertainty for Astro.

"At the current price level, we believe that it is an attractive entry point for investors to accumulate on Astro's shares," it said.

The research firm has maintained its 'buy' call on Astro with an unchanged target price of RM3.40.

As at 3.08 pm today, Astro fell four sen to RM2.66. -- BERNAMA