PARIS — Satellite fleet operator Eutelsat and Sky Italia, one of its biggest customers, have renewed their soon-to-expire capacity leases in a single contract valued at around 450 million euros ($538 million).

Eutelsat said the multi-year contract, which includes priced options that could expand either its scope or its duration, assures Eutelsat of “broadly stable” revenues in the medium term” compared to the series of smaller deals set to expire over 18 months starting late this year.

Broadcast represents 50% of Eutelsat’s . . .

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