Surely Sky would be happy for England to lose the fourth place as it weakens their main rival's product? They would just talk about the 'race for third' instead.
Of course it does. The most committed fans might watch foreign teams in the CL but the majority of English viewers want to watch the English teams. BT will get by far the most viewers for games involving the English sides. The possibility of several\all of our teams going out early will be a nightmare for BT, but the idea of one not even qualifying at all (and therefore losing a minimum of six matches involving an English club) has to make what they're offering less attractive.
Quite funny really, it is all going down the pan. BT have hideously over paid for CL TV rights and could end up with one English team in the KO phase, the Premier League could lose the 4th place to Italy thus messing up the finances of more than one club who rely on CL money and nobody else cares.
Millions will still watch the semi finals and final.
Millions will still watch the semi finals and final.